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

To: At_The_Ask who wrote (58002)	10/30/2002 7:54:29 PM
From: Perspective	Read Replies (2) \| Respond to of 209892

HUI last several months does look pretty clearly corrective, even if it may not yet be complete. The one thing about corrective structures to keep in mind is that they make no prediction of duration, and frequently run on much longer than market participants can possibly imagine. The exception is Elliot triangles which always must be in terminal positions within corrections, and therefore do imply a time base as well. It is interesting that the previous corrective wave started in June 2001 and wrapped up at the end of October 2001. Could we have a similar seasonality this year? Longer term, I still have trouble with HUI as an impulsive count. I think there is substantial risk that we are in a lengthy corrective pattern back down. We should find out soon, though. If we are indeed pointed up for a fifth wave higher, it should start within the next several weeks. XAU support at 60 certainly favors the upside. BC