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Guy : have left out as much as I could
Jim : thanks to Greenspan charts can become much clearer
On the Upside
8690 Falling Wedge(=VST Downtrend) BreakOut Target
8690 Former Support in Rounding Broadening Top
8500 Short Term Down Trend Resistance Line(Todays value)
8500 Flag-2 rising Resistance Line
8383 50% Pull Back (VST Tech Correction)
On the Downside
6800 Flag-2 Fallout Target
6485 Half Mast Measuring Target
6366 Rounding Top's TRIANGLE Collapse Target
An "A,B,C" technical correction(32% from top) straight from the books.
Note that in the European Indexes a tech correction of 45-50% can be reached,
that is more than the US-indexes and this extra correcting is due to the 10-15%
current fall in the U$, wich eventual futher decline will also depend on the US
futher lowering intrest rates levels, another 0.5 % is required to get it in line
with the markets rates, thus not keeping it at artificial levels.
Note: (Dow1016.gif) chart is weekly data.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
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