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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (146997)	7/31/2007 8:48:28 PM
From: skinowski	Read Replies (2) of 209892

A little more wave talk... The presumed W4 (June lows) of the advance since March didn't hold. Therefore, the odds are that the decline is "correcting" not just the wave since last March, but the advance of the next larger degree -- which would be (imo) the entire rally since Oct 2005. The next big test would be the Wave 4 of that advance - namely, the March lows. Circa 12K on Indu and ~1365 on SPX.

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