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Based on your chart I'd say that the Dow will go down 41.97 today:-)
Seriously, mostly all that can be determined from these charts is analogous
pattern development. Which is a very iffy thing. How many broken shoulder
formations have I/you seen? Still sometimes they fit like a glove.
I'm still trying to figure out what values your extensions are based on.
After the 100% level the lines look like they are equal distance apart. I
personally like extensions based on Fibonacci numbers such as 1.38, 1.62,
2.62, 4.25, and 6.85. Like all estimations there are many different
extension values that a possible but I think that these are among the most
accepted.
Maybe 22848 will never be reached. The future has many possibilities. If
you were in pre-communist Russia would you have guessed that security
markets would disappear for what like about 50-60 years?
Best Regards,
Brent
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