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Intel Corporation Message Board

  • mohawk1968 mohawk1968 Dec 12, 2002 9:16 PM Flag

    Everybody - IMPORTANT

    Get ready to reverse your trendlines, break out your shorts, and sell your longs.

    Look at the SPX. Remember how I've been saying that wave 5 is expected to fail? I was having real trouble with the charts today. The price kept adjusting the trendline lower and making the pattern not fit. Tonight I am noticing something. Of this wave 5, wave a is complete. Wave b of wave 5 is also complete. It contains a common flat. Here is where things get sticky. We have been making wave c since today's low. We've finished the day making wave 4 of wave c. Now this is supposed to be a thrusting wave, which means it is supposed to be 5 waves. To finish wave c we HAVE to have a major rally in the morning since we are consolidating on the lower boundary of the price channel. However, wave c is a PENNANT. If we break to the downside in the morning, that would leave wave c unfinished, the failure I've been expecting. That would transform what we thought was wave c a thrusting wave, into a corrective wave. That would make today's high the END OD WAVE 5, a failure because it did not complete. Good trendlines 12/2 lend to the possibility. I would highly recommend you be ready to break out your shorts tomorrow.

    There is a very weird omen on the SPX chart. On a 1-min chart, 11:30am yesterday to 11:30 today, the chart is a MIRROR IMAGE of the yearly chart. You can clearly see the double tops and double bottoms of the common flat, same as since the summer. See the head and shoulders formation like on the yearly chart? See what happened to the price after falling off the shoulder? Coincidence, or could that be a signal to the fundies that a major move is about to take place?

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