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Strategies & Market Trends : Classic TA Workplace

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From: wave3rules	8/9/2006 8:34:37 PM
	Read Replies (1) of 209892

In a weekend post I spoke of the S@P weekly, and the case for a big move down cutting below the long term trend line. Step one was for a close below the doji low of last week, we are right at the doji low and the daily chart looks bad so I give odds of 80% right now we will close below the doji low on Friday This will give a SELL on the weekly chart, and will confirm EW wave 3 down in process. Now a close below 1245 the trend line and that means the fat lady is singing and look for S@P to see 1100 by Oct/Nov. Bottom line is we are getting very close to confirming a 3 of 3 in play and a close this week below present levels will clearly confirm, and the chart pattern shows potional for a fast drop once we close below the lower channel line. Message 22693165

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