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Nasdaq still squarely in Doomsday Channel


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#1 SemiBizz

SemiBizz

    Volume Dynamics Specialist

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Posted 18 August 2007 - 11:21 AM

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This lower volume spike yesterday came on 2 strong events that should have produced (1)more volume as well as (2)significantly higher prices...(1) Options Expiry (2) Fed Discount rate cut. We should be well under 2400 by next Friday... I have an ABC Down target now of 2285-2325. We are in a fibonacci time accelerated crash. The first ABC down interval was 13 days, the second was 8 days, and this one will be 5 days. I would expect since we stalled between the .50R and the .618R there is room for another spike up to that .618 level or 2535...
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