Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: AllansAlias who wrote (1578)	8/6/2008 11:33:56 AM
From: Perspective	Read Replies (1) of 3209

Ah yes, Occam: entia non sunt multiplicanda praeter necessitatem "entities must not be multiplied beyond necessity". en.wikipedia.org Regardless of the exact count, my reads all remain consistent with absence of trend since we moved into this short covering rally on July 15th. I think this is the most immediately bearish possibility for SPX: The other counts allow for a trip to the top of the flag we've built. As you've said, it's all out the window if the flags/triangles breakout to the upside. Not a very comforting thought for someone who has expected this (and played it) to be a fairly brief (3-5 weeks), sharp interruption in a strong downtrend. Given that we spent eight weeks in March-May correcting upward, I still favor that interpretation. Note that we are now in day 16 of the correction from July 15th. I find that embracing my fear is actually very positive for investing. The fear of losing leads to rapidly cutting losses, and that's the most important skill that the average investor lacks. `BC

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