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Strategies & Market Trends : TA- Advanced GET

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To: Temple Williams who wrote (1018)	4/26/1998 4:13:00 PM
From: Gary Burton	Read Replies (2) of 1551

Temple----I agree that this likely is the c leg of a 3-3-5 flat and that slight new highs are coming very soon. BUT---I feel that you should have moved the 4 over from the late Oct 97 low into EITHER approx Jan 8 (if 4 was a 'double three') or approx Jan 23ish ( if 4 was a abcde triangle with a relatively small 'e'). I say this because the first move off the Oct 97 low looks very much like a 3 wave and not a 5w impulse. I see that you have labeled it 1-2-3-4-5 but I have a hard time accepting your 3 .--------Bottom line------the market may well top out and enter a serious correction immediately after it makes one more small new high at a point where you are thinking it's only 3 in the 5th wave (when it's actually the 5th of the 5th). Momentum has been dropping on htis thrust ever since mid Feb and it in fact looks very much like the preaamble to the interim top last August.. In my view, we are about to very soon start down 15-20% and thereby cause GET's weekly osc to fail in here (not make a new high-finally!). Once it again goes back to or below the zero line, another spirited rally should then follow but with the weekly osc again failing for the 2nd time.

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