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

To: AllansAlias who wrote (537)	5/17/2008 11:16:05 AM
From: skinowski	Respond to of 3209

Just walking across the room I glanced once again at your chart, and the (three-waver) "wedginess" since the low in the Spring of 2000 is unmistakeable. I checked my QCharts, and of course, I already had them labeled the same way as you did. The thing is an evolving ED. Never say never... it may also be a running correction, and this great company may be setting up for another grand advance - but that seems less likely judging from the chart. Another somewhat more bullish alternate for the next year or so could be in play if the April 2005 top would be only "A" of the Wave 3 of a (larger) ED. In this case, what followed would be an Elliott triangle, and what we should expect is a rally above 75, to complete W3 of that larger ED. (in fact, this may at some point serve as an indicator for broader markets). In either case, if it is an evolving ED, at some point the 1998 lows are likely to be tested.