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techcharter

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techcharter

Re: None

Thursday, 07/29/2010 9:45:08 AM

Thursday, July 29, 2010 9:45:08 AM

Post# of 51804
E-wave count- Old is New

I'm taking a step back in degree of trend.

wave 1 April '10 high to early June '10 low
wave 2 June '10 to present. wave 4or 5 of c flat.

http://stockcharts.com/h-sc/ui?s=$NYA&p=D&yr=0&mn=6&dy=0&id=p79231588036


The stochastics are way overbought. The volume for wave a rally is greater than wave c rally. This is a divergence. In the NYSE, the 200 day avg is overhead resistance. A false break should pull in the last doubters before the market tops and drops.
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