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Some intersting "coincidences" for today
The Stock Market reversed its "panic" fall on October 28
The swiss franc and the D Mark gapped up on October 28
The Bond market made a spike top on the opening of Octobeer 28
Today
The D Mark has filled the gap made October 28
the S Franc has dropped to the top of the October 28 gap
The Bond market has dropped through the October 28 high of 118.28
The DJIA is slipping below the rising trend channel on the last three day
bull channel
This indicates to me that we may be at a significant turning point.
This is not an after the fact trend change. This would be an anticipatory
guess. (Had to qualify the observation)
I consider 118.17 to be more significant than 118.28 due to the panic nature
of the 118.28 high. If 118.17 is violated, we have a breakdown in the
current elliot impulse count. We may already have it if 118.28 marks the
real high of the first impulse wave.
Walter McCarthy
R.R.#2, Hensall
Ontario, Can.
N0M 1X0
519-236-4845 phone and fax
mccarthy@xxxxxxxxxxxx
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