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Guess Europe would have to pull a rabbit out of its hat this weekend for that to be fulfilled
actually that is not the case--the odds the market would be supported in the event of a cyprus failure are epic. while i often disagree with central bankers and govs they obviously grasp what is at stake here. it's important that either way Cyprus goes it's contained. short term this is likely possible--longer term (imo) this is not going to work.
Guess Europe would have to pull a rabbit out of its hat this weekend for that to be fulfilled
Even if the triangle does not pan out EW wise the internal structure of the pullback off the March 15 high is corrective therefore a top is not in place yet ===> Price eventually (within the February up leg ) will unfold another up leg
Cobra wrote:breakout as expected. here's the target.
new down MM target is about 153.6, is that right? start at 3:05
No, now it's the common pattern I talked minutes ago. I removed lines so that every can see the ascending triangle. now the lines are back. the call still valid.
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Absolute Breadth Index: Developed by Norman Fosback, the ABI is equal to the absolute value of the difference between the advancing issues and the declining issues. It shows how much activity and volatility is taking place on the New York Stock Exchange while totally ignoring the price direction.
ab.png
‘the petrodollar is our currency and our problem’....Gappy
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
Cobra wrote:breakout as expected. here's the target.
new down MM target is about 153.6, is that right? start at 3:05
so two possible targets. we have to wait.
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