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ALSI

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Super Contributor
good carnage if you are in tune with the market
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Super Contributor
Are u seeing trend change at 39600
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Super Contributor
yes, 39500 to 39600 therabouts...
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Supa
Contributor
So, where to from here? What's the consensus? I'm short but everybody keeps talking about a Christmas rally?
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Regular Contributor
banking on Xmas rally! not saying it makes sense though!
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Super Contributor
from my post above:" looking at daily ALSI needs to take out 40839 and close above that level, to reverse this down trend....40839 was the previous lower high (or end of wave b and monday was end of wave c). Now the high of 28/11/2013 was 40409.....Based on simple trend definitions and some elliot wave....We still going thru a correction on daily until we take out 40409, then 40839 to complete the correction.If 38370 does not hold, then this is a trend change(down) on daily and not a correction.My trade based on the above analysis for Weekly ALSI is still holding up and will continue to do so until 38370 is taken out...
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Super Contributor
This sideways pattern is typical of a ABC Elliot wave correction....usually happens after a run in a strong trend....but you never know when the correction is a trend change or just a correction in a strong trend..... All you have and will ever have to allow you to trade the correction or trend change is a stop loss.......
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Super Contributor
If this taps 40k I am gonna get plastered at the local.
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Frequent Contributor
Early publunch in 50 points time?
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Super Contributor
Trading above 39634 and we get there today....
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Super Contributor
Beautifully done, like art.
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