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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (135649)	8/15/2006 11:08:40 PM
From: skinowski	Read Replies (1) of 209892

be aware that the SPX has a bearish wedge going off the June low. Since Ending Diagonals "like" to be in "5" or "C" position - and this can't be the former - consider the following. An orthodox low of Wave 1 (or A) could have occurred as early as 5/24. June high and June low could be "a" and "b". The putative ED might prove to be "c". In other words, an old fashioned Expanded Flat. A hard down 3 (or C) could be a real pain, and it seems it would be quite unexpected. Gotto watch the August 10 low for a possible signal.

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