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In shorter time frames, the weekly and daily DJI charts are in MOB (Make or
Break) areas that would normally provide support (gif's attached). Looking
out a little further to a monthly chart reveals an interesting picture of
where we might just be?
Is it possible we are/have completed a larger Wave A formation (meaning the
ABC monthly is the internal count for a larger Wave A) and a Wave B rally is
about to unfold that will subsequently be followed by a Wave C that will
take the 5/35 monthly oscillator to zero?
All three charts are attached (monthly , weekly then daily). Price action
into MOB's (or MOB extensions courtesy of Lenny) are now present on the DJI,
the SP Cash, NY Composite, Nasdaq and even the Japans Nikkei which if held,
would be supportive of some sort of tradable bounce perhaps? One by one they
have all reached there respective MOB's.
I will post updated charts that I have previously posted on the other
indexes in following emails.
don ewers
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Attachment:
Description: "DJIdaily033001.gif"
Attachment:
Description: "DJIweekly033001.gif"
Attachment:
Description: "DJImonthly033001.gif"
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