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Strategies & Market Trends : Visit Mr. Elliott. -- Ignore unavailable to you. Want to Upgrade?

To: skinowski who wrote (191)	9/1/2005 4:47:58 PM
From: Moominoid	Read Replies (1) \| Respond to of 656

I am moving towards thinking that the market (NAS) is in a triangular correction since the beginning of the year. We are now in the C Wave, but this down wave is going to be pretty shallow. We might not then get much below the July low, say 1470 on NDX - drawing a line from last summer's low to this summer's and continuing it. It is pretty amazing if that is the case from an FA basis, but given the recent market action I think that is where the TA is beginning to point. A new high for the year though won't make any E-Wave sense, so I am still ruling that out.