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Bill E.
Not sure here but attached are a couple of charts that suggest the lows
today are in an area that should provide some support near term.
The 60min shows us near a 2.618 expansion of wave 1 subtracted from
the top of wave 2 a point where wave 3 is getting into low
probabability area of continuing further without some sort of correction or
consolidation.
The daily shows us near a MOB off the last pivot which again may turn this
move.
Lastly 1342.00 the last pivot high less 74 "Time Factor points" = 1268 (I
have mentioned him before).
Soooo... lets see if we have a bottom for a wave 4 rally perhaps?
don ewers
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=t-bondtrader@xxxxxxxxxxxx
href="mailto:t-bondtrader@xxxxxxxxxxxx";>t-bondtrader
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>RT
Sent: Wednesday, February 21, 2001 1:22
PM
Subject: [RT] S&P bottom?
Don and others
I have just dug up the chart we discussed a few
posts back and I think that your line has now been well and truly violated, so
where now? The thought occurs to me that we might have reached a
bottom, even if it does appear to be between the tram lines.
What gives me encouragement is the 'island' that has formed on the
bonds. Now I know, before all the argument starts, that it is not
a perfect island reversal (but then nor was my H&S top and look where that
went!) and if it is a sign of lower prices on the bonds, then perhaps we will
see a rise on the Spoo.
Anyway, what does your EW counts say about all
this?
BillTo
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