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S&P 500
5,482.87
(
0.09%
)
US TECH 100
19,285.60
(
0.37%
)
Dow Jones
39,164.06
(
0.09%
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Brent Oil
85.31
(
0.99%
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0.91%
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techcharter

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techcharter

Re: None

Wednesday, 02/18/2009 10:08:34 PM

Wednesday, February 18, 2009 10:08:34 PM

Post# of 51804
OIL is about to GUSH

Oil is showing a textbook corrective e-wave.

wave a - late December low to early Jan high.
wave b - nearly complete triangle.
wave c - starts any day now

http://stockcharts.com/h-sc/ui?s=$WTIC&p=D&yr=0&mn=3&dy=0&id=p12127627827

The triangle indicates there will be a wave c, not wave 3, since traingles occur next to last wave of the larger degree. This makes me think the stock markets are ready for that 4-6 week rally I was calling for last week. The headlines will read next week: "stocks and oil rally on confidence the economy is turning around." I won't be fooled. The timing of this rally fits perfectly with a general pump-and-dump into earnings reports the first week of April.
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