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Strategies & Market Trends : Moomin Valley (formerly Troll-free Zone) -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (1233)	10/26/2005 9:36:25 PM
From: skinowski	Read Replies (2) \| Respond to of 2852

LOL! OK, let's approach it differently... ;) Let's assume - for the moment - that SPX low of late August was Wave 1(or A). Let's also assume that the decline which started on Sept 9 is 3(or C). Today's high overlapped with the August low, thereby ruling out this most recent rally as Wave 4. It still remains eligible to be 4 of 3(or C). So, if we get a sharp decline to new lows, the odds are that it will be Wave 5 of 3(or C). After it's done, we may have a fully tradable multi-week Wave 4 -- to match "2" from late August to Sept 9. Ergo, if it sells off, I'll look for a long entry..... Otoh, if "MC's" ED is in play, then the index should rally up to new highs..... at which point I will look for a short entry. So, what else is new?... ;)