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techcharter

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techcharter

Re: None

Monday, 06/22/2009 11:28:26 PM

Monday, June 22, 2009 11:28:26 PM

Post# of 51808
2-Week INDU E-wave count

I've got a sneaking suspicion the markets are near the end of a 2 week selloff. Sure, today was a big down move; however, structurally the choppy rally last wednesday and Thursday look like a triangle. Triangles occur in the next to last position of the larger trend. As wave b's or d's in corrective mode, or as wave 4 in larger motive waves. Stochastics are entering the oversold area. Today's volume was less than on Friday, despite the larger point drop.

The end of this wave c of 4 of Larger C is just too close to call tomorrows opening. Just look for a strong rally by the end of the day.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?symb=indu&time=&freq=
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