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techcharter

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techcharter

Re: None

Wednesday, 09/30/2009 9:55:43 PM

Wednesday, September 30, 2009 9:55:43 PM

Post# of 51808
Dow Industrial Ewaves

The rally off the March '09 lows is corrective zigzag. wave 5 of c started today, unless wave 4 of c is a triangle instead of a zigzag.

The other indicators are flashing a warning of an end to the rally. Stochastics have been in and out of overbought the past 3 months. The Relative Strength Indicator (RSI)is flat to declining despite the rising market, as is the MACD. 2 divergences!!! Volume has been declining for most of the 6 month rally. The volume for wave-a zig is nearly 2x of wave-c zag.


http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=6&dy=0&id=p75635173805
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