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Strategies & Market Trends : Longer-Term Market Trends
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To: Moominoid who wrote (266)4/11/2008 10:09:48 PM
From: AllansAlias  Read Replies (1) of 3209
 
Yup, that 1990 build out of the low looked like crap, but what a dandy buying opportunity it turned out to be. It came in October no less, which would also be a statistical headfake.

That rise out of the lows took place over three months and retraced over 50% of the previous decline before it rolled over in a sharp fall (the buying opportunity decline). The sharp fall retraced about 62% of the rise out of the lows before taking off hard to the upside.

There are lots of examples of price charts rhyming with the past. This could be one. We'll only know after the fact. To be calling a leading diagonal at this point is just a guess imo.

Good stuff. Thanks for posting it.

Here is another look at that low:


And this gives it some context:
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