CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: jaker who wrote (8324)	8/22/2008 7:00:21 PM
From: skinowski	Read Replies (2) of 41411

Strong day today.... If SPX takes out 1302 - the 8/15 top - the odds will be pretty good that it may move on to new recovery highs. Maybe in the end we'll have something which will look similar to the March - May rally? If that happens, I think this week's low would be analogous to the April 15 bottom. The March rally retraced between 50 and 62% of the October-March decline. The analogous level of retracement of the May debacle is between 1320 and 1350. Ray, it may be that your August 20th was a turn after all, just not a top, but a low.... LOL! But let's not run ahead of ourselves. One wiggle at the time. It can go either way from here... but we are likely to get the answer soon, imo.

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