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Using the "ellipse tool" on a weekly SP cash chart has produced results from
two prior low pivots that are quite stunning. Oh, if one only had only found
this before (and had the strength to act on it).
All have captured major trading turning points (notice the double hit in
March 2001 from two separate pivots before).
Noticeably, the 9-18-02 (aka 911) low was not caught by an ellipse, but
then again who could predict that!
Also somewhat interesting is the last long term ellipse that is still not
set (the one that still has a shadow line)?
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