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from yesterday market close update:
<< both volume indicator and ST fear factor have a potential bullish set up for as soon as tomorrow.
my "guess" is market rally tomorrow.
one question about some bears' 78.6% retrace target for wave 2 of P3 for $spx:
the wave 2 retrace for P1 during year 2008 is less than 61.8%,
P3 is supposed to be a killer wave, and should wave 2 of P3 retrace be higher and stronger than P1's wave 2 retrace?
i believe the usual impression is P3 should be much more powerful than P1, and P3 retrace should be weaker than P1's retrace.
unless current P3 assumption is totally wrong (again)? something to think about.
i believe i have the answer, and it's not a new bull market as some bulls' wrong wish (again).
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