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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 38.85-0.9%Nov 14 4:00 PM EST

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To: GROUND ZERO™ who wrote (83072)6/24/2013 4:21:51 AM
From: John Pitera  Read Replies (1) of 206877
 
Hi GZ, I have been musing for several years that the SPX chart since 2000 may end up looking a lot like the DJIA chart from 1964 to 1982.....in Elliott wave terms, that was the last secular bear market... the chart is a mostly sideways chart ...showing a broadening top formation for the first half and then a contracting triangle that we broke out of in 1982-1983... If I also posted a constant dollar chart of the DJIA for the 64 to 82 time period we would see the massive downtrend and wealth destruction as measured by purchasing power by being over allocated to equities during that time period
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