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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (138311)	11/7/2006 4:18:45 PM
From: skinowski	Read Replies (1) of 209892

I am talking about the (SPX) rally which started from last Friday's low. It is a three-waver. The first leg ended (imo) yesterday around noon time. It was followed by a running correction, and the next leg up (presumed 3 or C) ended at today's high. My point was that this second leg up is shorter than the first one - therefore, if this structure is destined to become an impulse, the odds are that the next leg up will be short. Again, these are very short term considerations... just a few of ongoing observations.

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