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Gizmo

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Gizmo

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Re: teaparty post# 88717

Sunday, 08/20/2006 3:54:24 PM

Sunday, August 20, 2006 3:54:24 PM

Post# of 148479
I'd say so. Your count and target is looking good to me.

Mike Burk says...
Because of the lack of new highs it is likely the move last week was a bear market rally rather than the beginning of a new bull market.

and...

You expect new highs expand in up markets and contract in down markets.

There were 78 NASDAQ new highs on August 4 when the index was at 2085.

On Friday the number of NASDAQ new highs declined to 53 from 80 on Thursday with the index at 2163.
http://www.safehaven.com/article-5727.htm

Gizmo...


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