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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (137645)	10/19/2006 1:57:36 PM
From: The Freep	Read Replies (1) of 209892

Ski -- in the wiggles on the SPX, I don't like the B wave of the triangle being that much longer than the A wave... but otherwise, it sure fits the bill. Maybe we need an "e" down throwover first? I don't really like the triangle on the INDU, as the B of the triangle is nearly 150% of the A, and that's not kosher per my recollection of the triangle rules, even giving it some wiggle room. Whatever we've got, though, it seems like we're consolidating for a decent move, and as I said yesterday, it's still seems as likely to me that moves go up instead of down here. I just wouldn't be ready to play that triangle in the wiggles. (added as I now finished typing... this could be the wiggle "e" overthrow... or the break of the uptrend line. Let's see, shall we?) The Freep, off to make coffee to watch.

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