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Strategies & Market Trends : Longer-Term Market Trends
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To: ItsAllCyclical who wrote (1405)7/19/2008 11:48:09 AM
From: skinowski   of 3209
 
I posted a somewhat similar chart recently. Message 24760781

The point is that your three legs down may represent not all, but only Wave "A" of a larger and more complex correction. If this proves to be the case, we may be close to starting a wave "C" down.

If the formation which you posted is destined to become a "cup & handle" - then, maybe the way to go is to wait out the "handle" and buy the breakout. This would help avoid the danger of getting stuck in a possible test of May lows... imo.
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