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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: J.T. who wrote (7925)	5/30/2001 1:02:04 AM
From: Shack	Read Replies (1) \| Respond to of 19219

Clint rules still! I'm tracking the most recent rally in the HUI (April 4-May 19) as a completed wave 3 up. No magic here, I'm simply looking for a corrective structure to retrace that rally. It should come in a 3 wave pattern (down-up-down). We've already retraced beyond 38.2% of that rally on the first down, so I'm looking for the 50% retracement level or 63.50 for the total retracement level, basically another 5% down. That won't come until after a little up now as I said before. I won't be playing this up but it could last a little while. I will definately be going crazy long when I see this structure completing because the next up is the wave 5 up. BTW, I use the HUI as it simply counts better.