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Strategies & Market Trends : Classic TA Workplace
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To: wave3rules who wrote (134844)7/27/2006 6:30:18 PM
From: venividivici  Read Replies (1) of 209892
 
My point is kind of a bit wiggly for this thread, but it goes directly to your bigger count, so here goes: The initial move off today's highs in the NDX, SPX, and arguably the INDU, were all three wavers, with the INDU looking like an expanded flat, while NDX and SPX look like regular flats. That would put us in a correction of the move up, not an impulse down. This is pretty clear on the 15 minute charts and below.

The follow-on five waves down this afternoon would be the C of that flat count.
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