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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Mike M who wrote (28963)	9/27/2001 6:02:32 PM
From: Zeev Hed	Read Replies (5) \| Respond to of 30051

Right that is exactly what I am calling it (thus my stubborn wearing of the bull horns, despite the last two days swoon, that fast retest was expected). It follows the "coalescing model" where the late August/ October double bottom is replaced with a single sharper bottom at 1400 (missed there by some 13 or so so far). I still have a retest late in December (but I doubt that one will get lower than 1450, maybe even not that deep). In between I expect a sharp rally first of about 100 naz points (a week or so, about 1570) and then a slow ascend to 1700, maybe as high as the old target of 1793 before late in November early December we drop again. A breach of last week lows will of course change that drastically. Then from those December lows, I have a target of 2250 during the first quarter next year. Zeev