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

To: Henry J Costanzo who wrote (129609)	2/15/2006 6:24:14 PM
From: Shack	Read Replies (1) \| Respond to of 209892

Good chart. Clearly we could hit that 51 level in a (c) wave (which is still getting the benefit of the doubt over the (iii) since we are talking about a macro uptrend here) and still be in the uptrend. The long and short of it is I would wait until we get a low in this downwave, watch the first "counter-trend" move and make a call then. Hell, I may be able to buy back all my energies at a discount! As for the potential ramifications for the market of declining crude, it is not really worthy of discussion from a trading standpoint, after all crude tripled during the current multi-year SPX bull. Who'd have thunk it?