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To: JRI who wrote (1940)7/22/2002 6:22:18 PM
From: ajtj99  Read Replies (1) | Respond to of 10157
 
JRI, I agree with the targets you mention, although 3-black crows on the SPX seem to be pointing to around 785 or so on that index.

There are going to be two big lows this year, IMO. This one, and the one in late October or early November (preferably late October). Ideally, we'll rally from around COMP 1000 to 1250 from the fall low. That may give us the running flat that leads to a final 5-wave move down to the lows next year, possibly in the COMP 800 range.



To: JRI who wrote (1940)7/23/2002 12:07:54 AM
From: velociraptor_  Respond to of 10157
 
Turn dates should not be taken for granted. When you have a major trend going into a major turn date, you expect it to be a low. However, if you even rally 2 days into that date after declining for 30 days, that date could easily be a high. You're never 100% sure of which way the turn is until the date comes near.