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S&P 500
5,491.49
(
0.08%
)
US TECH 100
19,402.00
(
-0.03%
)
Dow Jones
38,902.25
(
0.17%
)
Brent Oil
85.08
(
0.45%
)
Bitcoin
64,836.99
(
-0.22%
)
Post# of 51804
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techcharter

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techcharter

Re: None

Thursday, 07/22/2004 8:46:28 PM

Thursday, July 22, 2004 8:46:28 PM

Post# of 51804
NAZ drops more that 60 points tomorrow

I've got my BEARings on the NAZ wave count.

Today's bounce rally perfectly retraced 38.2% of the 79.45 point drop from Wednesday's opening high. The wave structure looks like a WYZ wave 2 correction.

Highest probability for wave 3's downside target are based on Fibonacci relationships as shown below:

(wave 3 = 1.618 * wave 1 = 128.55 pts, 6.5% ) NAZ = 1764.43
(wave 3 = 2.000 * wave 1 = 158.9 pts, 8%) NAZ = 1734.08

http://charts.barchart.com/chart.asp?sym=$NASX&data=Z05&date=072204&den=HIGH&evnt=of....


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