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Strategies & Market Trends : Classic TA Workplace

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To: Galirayo who wrote (170001)	7/26/2008 1:33:39 PM
From: Henry J Costanzo	Read Replies (1) of 209892

An awful lot of links/charts to try to absorb...so Just looking at the chart in your last post, some quick comments: .........Just can't see the basis for any abcde count from August...No triangle that I can see there.... ??? ........Still have to question your 5 waves up from Mar to May..As discussed with rayrohn yesterday, only possibility for 5 waves would be if you're looking for a zigzag UP from Mar...and since that would imply new highs ahead...over the May high... I don't think you have that in mind... At this point, think we have to wait for more development of the latest advance for "clarity"......So far...in both the wiggles and the daily...it looks impulsive..and we may be in for a few days of abc/2 correction....But if that is resolved to the upside...in a 3...the weight of evidence IMHO would then shift towards concluding that the last low completed a large corrective move from last year's high..

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