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In a message dated 97-09-16 08:19:29 EDT, you write:
<< One of the trin indicators I use has the trin in an "oversold" zone(ie:we
should continue this bounce)>>
Tom,
Yes the TRIN is oversold, or is hovering in the oversold area. This was a
typo on my part. Didn't bother posting a correction as I thought the bullish
thrust of my post made my "overbought" statement an obvious error on my part.
<< Also......looks like we have completed or are about to complete an e wave
of an abcde triangle from the Aug. high...........Thus not much downside,
but lot's of upside potential(possibly new highs????)>>
You may be correct, but I think we've only completed waves a,b, and c of the
triangle. Wave d and e are yet to come. I have my primary scenario as: wave
"a" 8/7 to 8/18. Wave "b" 8/18 to 9/5, and wave "c" as 9/5 to 9/12. I know
the low on 9/11 was lower than 9/12 , but "I have my reasons", strange as
they sometimes are.
Good trading,
Peter
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