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Strategies & Market Trends : Classic TA Workplace

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To: wave3rules who wrote (135486)	8/11/2006 12:54:57 PM
From: wave3rules	Read Replies (1) of 209892

Regards this post below, the doji low last week was 1265 for the S@P weekly, watch for a close below that today for a sell on the weekly chart. Also it is almost certain the R2000 will close below its doji low of last week as that was about 685 and we are 679 right now. Unless of course the markets reverse in the afternoon, but I would not count on that. By: vatman1958 09 Aug 2006, 09:23 PM EDT Msg. 46852 of 46938 Jump to msg. # 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 this week to 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 or C 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 trend line. So if you are a trader thats time to go short big time, if an investor go to cash, dont even bother to try and find something that might go up in that kind of market.... Message 22693165

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