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Strategies & Market Trends : Waiting for the big Kahuna
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To: HairBall who wrote (27924)9/15/1998 3:48:00 PM
From: bobby beara  Read Replies (3) of 94695
 
LG, I think Friday was a failed wave 5, and another leg down is seeming less likely now. We had a blow-off in treasuries, gold, and OEX put call ratios, so as it was in October we may have had a coincident price and momentum bottom.

There were some fibonacci turning points around early september (233 from Jan. 12) and Sept. 12th, which could have fallen on Sept. 11th and that was the final retest.

Sell the rallies seems to be waning on this rally.

bwdik,
bb
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