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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?


To: bobby beara who wrote (3078)8/5/1998 8:52:00 AM
From: Arik T.G.  Respond to of 5676
 
BB,

E count from the top:

1 of 1 down ended 7/28
abc up ended on close 7/30
3 of 1 down had wavelets as follows : 1 down on 7/31, abc intraday 8/3, 3 down last hour of 8/3 until noon yesterday, a classic intraday abc until 14:50, and a steep 5 of 3 of 1 to the close yesterday, that may or may not leave residue ATO today.
We are, or have, completed 3 down, and a bigger correction is now in order. 4-5 days with around 3-4% gain from bottom to top.

An alternate interpretation could see the intraday correction yesterday as mid break in the 3 of 3 of 1 down, thus predicting another decline today.

ATG

Hold the front page!!!
Abbey Cohen just made some very bullish comments. We're clear for correction.

ATG



To: bobby beara who wrote (3078)8/5/1998 9:38:00 AM
From: Arik T.G.  Respond to of 5676
 
BB,

This correction should take us to at least OEX 541, but not over OEX 552. It should take 3-5 days. The more the market will hesitate at the start, the longer and higher we correct.

Short term trend- completed down, will start up today.
Medium trend - Down.
Long term - Still up, but with a bad limp. Though I strongly believe we have seen the top, the confirmation is not there yet (SPX breaking 200 DMA)

ATG