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This is what happens:
This has happened six times according to a piece of research I saw. Over
next three days, Dow falls on average 2% (and has never risen) and then
rallies 5% over next couple of weeks. Note though that this was done b4
Dow diverged again yesterday so the pattern is already broken.
Steve Poser
--
Steven W. Poser, President
Poser Global Market Strategies Inc.
http://www.poserglobal.com
gary gray wrote:
>
> I always enjoy(ed) these little snipits from the EWT over the years.
> This one dawns on me...
>
> July 1998 SnP futures
>
> 7/17 Fri +2.7
> 7/20 -2.0
> 7/21 -21.10
> 7/22 -9.00
> 7/23 -24.50
> 7/24 Fri -3.0
> 7/27 +5.8
> 7/28 -17.9
> 7/29 -6.1
> 7/30 +17.0
> 7/31 -23.2
> 8/1 Fri -5.6
> 8/4 -44.3
> 8/5 +14.5
> -----
> Total -116.7 in 14 trading days (avg. -8.4/day)
>
> Then the mkt traded sideways for 16 trading days...
>
> Fireworks begin...
> 8/26 -7.7
> 8/27 -51.8
> 8/28 Fri -5.0
> 8/31 -77.0
> 9/1 +45.5
> ------
> Total -96.0 in 5 trading days (avg. -19.2/day)
>
> The above with the SnP at ~ 1100
>
> April 1999 SnP at ~1300 with a war brewing....
>
> 4/12 Mon +13.8
> 4/13 -9.7
> 4/14 -23.0
> 4/15 -7.3
> 4/16 Fri ?
>
> Interesting.. the Dow has made new records the
> past three days and the SnP has gone down each
> day totaling ~ -40 points. If the Dow has a
> down day or two Friday and/or Monday will the
> SnP be Up? Doubt it :) I think the Dow will
> be down tomorrow (expiration??) and down huge
> next week.
>
> We shall see...
>
> Regards,
>
> Gary
>
>
>
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