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Strategies & Market Trends : Classic TA Workplace

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From: elliottrules	2/28/2008 4:35:46 PM
	Read Replies (2) of 209892

General comments... Overall, the EWave structure of the hourly chart remains incomplete to the upside. 12,473 reamins support and until that is broken, the possibility of 3 up starting at anytime is likely. More importantly than the Dow, NYSE Comp needs to decline below 9055. It closed at 9221 or about 1.8% away. Obviously there are other counts....just talking about the 2 I am looking at. The structure from the Jan low continues to suggest that a series of 1,2,i,ii is developing with todays decline likely a smaller i,ii. That count allows for us to be at or near the epicenter of 3 up. With that said, the advance from today's low did not take on the impulsive look needed to mark a low and forced me lower some risk. Hopefully nothing to worry about.

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