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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	4/5/2010 4:11:44 PM
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Market held in a narrow range after the morning high, closing near the HOD.. Appears to be building up a head of steam..for something<g>....either for a sharp pullback or a continued advance tomorrow.... On the EW front, the correction alternative seems to have been demolished, leaving the ED alternative still viable..Its upper line tomorrow is at about 1193, not counting on any throwover.. On the TA front, chart looks very much like a pennant completion...Only the 2% "rule of thumb" is the question there, if it applies to the market as it does to individual stocks. If pennant completion is valid, it would certainly kill my EW count, and I have no idea how I could possibly count the move up from the Feb low..

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