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#7505 (permalink)

02-03-2009, 04:47 PM

hedgehog

Member

Join Date: Dec 2008

Posts: 81

hedgehog is an unknown quantity at this point

Short now from 4439. Stop 4505.

The last 5-wave rally (15 min chart) appears to complete a larger 3-wave rally (see 1hr chart below). My MA is rolling over so that is my signal.

That said, a 3-wave decline that does not break 4300, and especially if it holds above 4150, leaves open the possibility of a dramatic move to the up-side to break the trend-line on the weekly chart, because of the 3rd-of-3rd wave phenomenon. I will try to alert that possibility here if it develops in the market.

Attached Images

Last edited by hedgehog; 02-03-2009 at 05:16 PM.. Reason: add chart

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