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

To: JRI who wrote (11198)	8/27/2001 10:28:40 AM
From: AllansAlias	Respond to of 209892

We are now passing over the limit of "same degree pullback " (Sorry, I couldn't think of a proper name. I mean the sort of pullback that one sees when the immediate wiggle trend is very likely no longer the trend.). After a run in either direction, there is usually a spot where you can see that the countermove is not just a quick pullback. For example, this morning we are seeing things fall out of the wiggle down-channel off this morning's/Friday's high and/or giving up breakouts from late Friday. This is where the smart long buys the weakness and the chart-chasing bear begins to smell blood. It's my favourite sort of inflection point.