The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: freelyhovering who wrote (24651)	12/26/1998 10:01:00 PM
From: Doug R	Read Replies (1) of 79246

Myron, You are spot on. It's the second time over 80 after a healthy enough pullback to allow for serious accumulation that really revs them up. As long as it doesn't reach into oversold, that's what's happening, serious accumulation. The return to over 80 is the signal that the "smart" money was as smart as they thought they were. In terms of Elliott waveness, the first move over 80 is wave 1. Wave 2 is the pullback to just over 20. Wave 3 (the big one) is the return to over 80. By using the 89, 3, 5 stochastics this way, one can avoid all that interpretive haze created by the countless E-wave theme variations. NETG...hmmmm. Very nice. For SPYG and NETG, all there is to do now is...wait. Doug R

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