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To: skinowski who wrote (197)9/3/2005 2:07:56 PM
From: Moominoid  Respond to of 656
 
If the June high is taken out then clearly we are still in the correction that started earlier this year. The MACD isn't turning down yet, so I don't think the divergence is clear as I'm calling for a 5th wave up from the May bottom (after we do the fourth wave here). If the MACD ends up crossing in the meantime then yes, that would be pretty bearish.