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Strategies & Market Trends : Longer-Term Market Trends -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (66)	3/27/2008 9:29:12 PM
From: AllansAlias	Respond to of 3209

Took a whole hour after I posted for price to move. Chitty call I made for it to move within "minutes".

To: AllansAlias who wrote (66)	3/28/2008 12:18:05 AM
From: skinowski	Read Replies (2) \| Respond to of 3209

QQQQ's threaten to overlap with the 43.55 price level. SPX/OEX/XMI already did overlap with their respective tops of the 1st legs up. If they are still going to rally further - which I think they are - they would have to evolve either into Leading Diagonals (less likely) - or alternatively, the decline of the last few days would have to be 2 of 3 (or C). The rally MAY also evolve as a series of "threes" - and this recent pullback could be Wave B of the first one of those putative "threes". Curiously, INDU bottomed prior to other majors, and its rally (78 min) looks like a fairly acceptable - completed - Leading Diagonal. There are many ways how all this may play out. The decline since October lasted about five months. Whatever it is that we are now witnessing will also take time. Anything's possible, but so far I think the benefit of the doubt goes to the bulls -- for the next several weeks to months. (If we hit new lows, disregard I ever said this... -g) (Apologize for the verbosity sin charts... traveling now)