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Strategies & Market Trends : Classic TA Workplace
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To: skinowski who wrote (133509)6/11/2006 2:31:08 PM
From: Shack  Read Replies (3) of 209892
 
Hardly anyone thinks that the SECULAR bear may be back, scratching at the door.

Lets look at the SOX, the crappiest and most bearish chart for clues. Let's assume the move off the Sept 2004 low was indeed an abcde wedge, which is my favoured. That means its was likely a (B) wave (as most wedges are) and we are heading down to the now 300's in a (C) wave.

If that is the case, we have every reason to be bearish right now, but it is a clue that the cyclical bull may be setting up for a C wave launch sometime in the fall, at least in the semis. This is of course measuring from the Oct 2002 low.

So this bear wave would not quite be a return to the secular bear. That comes later based on this clue.
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