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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: No Mo Mo who wrote (281804)10/7/2010 10:18:22 PM
From: patron_anejo_por_favorRead Replies (2) of 306849
 
That's pretty feeble support. It spent all of like 3 days there.....much better support lower. There may be a Fibo level around there, but I find when I have to resort to Fibo's with "no other means of support", the support doesn't exist except as an imaginary line on a chart.

A reasonable hypothesis would be that we are in an ABC correction from 89. If so, the ABC target would be at 74 or so. That would be reasonable as a target for an IT bounce, maybe of some duration. Or not.....<G>
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