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S&P 500
6,008.22
(
0.21%
)
US TECH 100
20,549.60
(
-0.08%
)
Dow Jones
44,338.11
(
0.79%
)
Brent Oil
71.62
(
-2.84%
)
Bitcoin
84,169.55
(
4.59%
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techcharter

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techcharter

Re: None

Sunday, 08/19/2007 10:41:46 PM

Sunday, August 19, 2007 10:41:46 PM

Post# of 51872
Shanghai Market-Wave 5-5-5...

The last 4 days show a prominent wave 4 triangle in the Shanghai index. Today's sharp reversal is typical wave 5 behavior following a triangle. The rest of the wave 5 rally usually ends near the beginning of wave 4. The 5000 mark is a little farther above, but not by much, so I think the 5K level gets tagged before THE top is in. That doesn't give the rest opf the global markets time to make new highs, only good selling opportunities.

http://finance.yahoo.com/q/bc?s=000001.SS&t=5d&l=on&z=l&q=l&c=
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