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Date: Sat, 11 Apr 1998 09:55:00 -0700
To: jharteam@xxxxxxxxxxxxxx
From: Neal Hughes <neal@xxxxxxxxxxxxx>
Subject: Re: Fut Bond Potential Elliott Count
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Jeff, my own Fib observations as posted on the Technical
Analysis forum at
http://www.purebytes.com/cgi-bin/pb/login.cgi
Go to the above web page to see chart.
---------------
The prior ABC swing (white letters on chart above)
worked out quite well, Fibnodes calculated the point
D would be at about 123^01, the actual high was
122^29, five 32nds off (not meant to be precise anyway).
The new fibnodes objective point (using the blue ABC
on chart above) is calculated to be
COP 121^20
OP 120^26
XOP 119^18
Support at COP would indicate a fast-moving bullish market,
and support at XOP would warn of a new bearish move.
Bonds have already retraced through the 121^20 area, and are
supporting quite near the 120^26 (actually 120^18 this week).
If it supports here, fine, but if it gets down to
XOP, Bonds would be at the 3/30 low, not a good sign.
-Neal.
At 02:31 PM 4/11/98 +0800, you wrote:
>John:
>
>Here's another alternate interpretation of the bonds. The low of 120.15
of the
>last two days MUST hold for any possibility of the continuation of the
'impulsive'
>move up. But price actions of the last two days made me feel
uncomfortable to
>call it the start of an impulsive move. There MIGHT be a possibility that
we are
>STILL in the process of completing wave c before up. Regards.
>
>Have a good one
>Jeff Harteam
>Hong Kong
>
>Attachment Converted: "c:\eudora\attach\tbond.gif"
>
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