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Strategies & Market Trends : Point and Figure Charting
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To: Fintas who wrote (32490)11/17/2019 7:02:47 AM
From: AdvocatusDiaboli  Read Replies (1) of 34818
 
back when the SPX was 810 a 13% drop would have been a biggee.

But off 3100.. ZZZZZZZ
I cannot follow your reasoning as to why a 13% drop is a biggee at one level but a ZZZZZ at current levels.

Firstly I do not believe we will see any 13% drop in the short term as Cassandra has predicted.

A smaller drop to the 200 DMA (aprox 6.5%)would not really surprise me greatly and would produce a healthy base camp for a strike out to the summit of Bull mountain. But even that seems less likely as caution is being cast aside as more with FOMO are joining the running of the bulls.

Yep Santa is coming soon with his sleigh loaded with good tidings.
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