CFZ E-Wiggle Workspace Message Board

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Strategies & Market Trends : CFZ E-Wiggle Workspace

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To: skinowski who wrote (40059)	12/30/2023 10:29:46 AM
From: robert b furman	Read Replies (1) of 41471

Hi Ski, Happy New Year to you and family. "None of then was bearish for the intermediate term." I'm not sure I agree with that statement. Define intermediate term ? The SPX topped out at 4818.62 in January 2000. It declined for the next 3 months and the bottom fell out in April. That final top marked the beginning of a very long and painful ABC that took years. If an investor had a big position i a stock, that gives a 3-4 month time period to sell out of get a hedge. Of course the first two strings (92 and 98) did work out. That really shows how valuable an Elliott Wave count is! The key point is 1999 was a straight up parabolic rise. During that rise many a chart showed unbridled euphoria AND the last straight up wave had a 5 in it. Not being frozen by greed really paid off then. I think we're due a reset fairly soon in 2024. Bob

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