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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (7390)	7/18/2001 8:22:26 AM
From: AllansAlias	Read Replies (2) \| Respond to of 209892

Could we be in an abc correction after completing 5 waves down (your "a" as a "3")? This is a popular count, but I don't buy it. That would make the 5 moves (up to what I've labelled 'c') part of some sort of expanding triangle. Draw a line between your proposed 1 and 3 bottoms, then another across your porposed 2 and 4 tops and you'll see what I mean. Paul, the Elliott-bulls see it your way, but like I said, I think they are wrong. Pushing over COMPX 2180 would prove me wrong. Yes, the most likely target for the 'C' would be around 2600. The next most likely less bullish target would be 61.8% of the 'A' move -- which would coincidently, be close to a double-top vis a vis the high for this move on May 22.