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techcharter

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techcharter

Re: None

Tuesday, 09/25/2012 7:42:06 PM

Tuesday, September 25, 2012 7:42:06 PM

Post# of 51788
Greece E-waves

The rally off the June 2012 lows is complete, or nearly so. The corrective bounce was very close to a fibonacci 78% gain (1-8/34).

The wave pattern looks like a zigzag. The zag is either in wave 4 flat, or wave 5 was an ending diagonal and the next larger degree of downtrend has begun.

The RSI and Stochastics show negative divergences and are rolling over. The MACD is also rolling over. The price is falling from the upper bollinger band. All of these are indications of a top.

http://stockcharts.com/h-sc/ui?s=$ATG&p=D&yr=0&mn=6&dy=0&id=p46283080829
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