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


To: SE who wrote (36914)1/29/1999 10:55:00 AM
From: Bull RidaH  Read Replies (1) | Respond to of 94695
 
Scott,

The first wave down ran from the 1275.5 open to 1259.5. If we're in a wave 2 bounce right now, the most likely retracement for wave 2's is 50%. Thus, a short from the 1268 area would probably do the trick. I'll keep my fingers crossed for you that we get at least that high.

You're right , a 100% retracement is probably too much to ask after such negative price action from the open.

Regards,

David