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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Death Sphincter who wrote (19215)	5/27/1998 9:29:00 AM
From: P.Prazeres	Respond to of 94695

1 minute to the gate....

To: Death Sphincter who wrote (19215)	5/27/1998 6:39:00 PM
From: Bull RidaH	Read Replies (2) \| Respond to of 94695

Carl, Was that end of day bounce "dynamic" enough for ya?...hehehe..Was a sharpie wasn't it? My take is probably the same as yours, and we're dead in the middle of 4 of C right now, with wave 5 down still to come. And I'm sure you're keenly aware that 1 of C was exactly 30 S&P points in size. So I reckon we'll be looking to subtract 30 from the end of wave 4's precise ending in order to produce a preliminary target for the Wave 5 on the S&P, which right now looks like it could be in the 1060's. A megaphone pattern that formed between 5/8 and 5/26 points to the exact same area, and the target of the break of the huge coil pattern that formed between 4/22 and 5/22 is in the same area (high 1050's...close enough). I expect the 1100 area to contain any rally attempts in the meantime...with a pierce of this resistance not lasting more than a couple hours (a great shorting zone, in my opinion). Regards, David