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Strategies & Market Trends : Classic TA Workplace
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To: Henry J Costanzo who wrote (138745)11/22/2006 12:21:26 PM
From: skinowski  Read Replies (1) of 209892
 
Another - imo - elegant possibility would be to see the SPX action since 11/15 as an Ending Diagonal, with an overshoot this morning. If so, the question would be - what degree is that ED? I would have to say that the more likely possibility is that it would be 5 of 3 - with 4 and then 5 up to follow. But who knows - cannot rule out the possibility of a higher degree ending structure... this latter view would not look as neat as the former (more bullish one) - but it's not impossible. The pullback will tell the story.
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