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

To: Jack of All Trades who wrote (45020)	7/10/2002 11:52:51 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

Yes, the sharp 4 would stop around today's high. I stress that Elliot sees that as the "likely" target in such cases (the previous 'iv').

To: Jack of All Trades who wrote (45020)	7/10/2002 11:56:14 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

It's worth pointing out here that tech, save for SOX, is showing us a less bearish count. It is much more overlapping, hiting that it does not want to do good down. Just using TA (i.e., not Elliot) you can see that since yesterday's 10 o'clock low, it has flattened out into a slightly converging wedge. We know what the rule on falling wedges is: 1) Should break to the upside. 2) if it breaks to the downside, it's a "Hound signal" and the break will be ugly.