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 (9448)	11/25/2008 10:50:07 PM
From: skinowski	Read Replies (2) of 41413

Thanks. Interesting view. I agree that the structure since May looks like an impulse. More likely than not it is completed. Your upper trendline on the daily chart represents important "R" - I seem to have it near 900. I am not quite as impressed with the "wedginess" of the whole thing. It could be that if this current bounce lasts long enough, this wedge will turn into a channel, or even go wide. For that to happen, the action doesn't even have to rally high - just needs to take a few months. As for the target for the current rally - assuming it gets legs - 100 on SPY does look good. It is Fibo level, and it's close to the top of a wave 4 of a lower degree.

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