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--- In realtraders@xxxx, "tradewynne" <tradewynne@xxxx> wrote:
>
> > "e" waves often overshoot the upper boundaries of triangles,
> particularly those of contracting triangles.
>
>
> Yes, but in your case:
> "it'll have taken out the highs of a and c," not just
> the triangle trendline. Moreover "e" will be **longer**
Excuse me, I should say higher, but could be longer according to
your #s. FWIW, I LIKE the 810 and 860 areas too, but not as part
of a "contracting triangle." See:
http://www.sharelynx.net/Charts/SP5001974.gif
The pattern is still following. DJI 7460 overshot a perfect 38.2%
(7479) from the 1974 low by about 20 points. The SPX has made a
higher low **so far** as it did in '74. There were 23 trading
days up and 23 trading days down in the '74 low's pattern. Recent
rally decline was 23 and 26 trading days. It goes on. Take a look.
than
> "c" at 857+ according to *your* #s. By definition contractions
> contract.... or not, whatever you say.
>
> --- In realtraders@xxxx, "Hill, Ernie" <ernie.hill@xxxx> wrote:
> >
> >
> > -----Original Message-----
> > From: tradewynne [mailto:tradewynne@x...]
> > Sent: Friday, October 04, 2002 8:24 AM
> > To: realtraders@xxxx
> > Subject: [RT] Re: My EWT count
> >
> > >It looks to me like the market is tracing out a contracting
> > > triangle defined by waves a,b,c,d,& e....and peak
> > > in the 857-862 range ....
> >
> > >If it rallies to 857+ it won't be a "contracting triangle"
> > >anymore: it'll have taken out the highs of a and c.
> >
> > "e" waves often overshoot the upper boundaries of triangles,
> particularly
> > those of contracting triangles.
> >
> > E
> >
> >
> > ******************************************************************
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