# Fri. 5-27-05 Dow (intraday)... the rally set up



## MARKETWAVES (31 May 2005)

The  Dow  Jones  ..  on  an  intraday basis  this  past  friday  was  sitting  in  a  pullback  position around  10;00  am  New York  time  ....


  This  was  the  prefect  case  of a  pullback ...    It  was sitting  on   to  top  of  an  old resistance  line  that  was tested  earlier  in  the  week...

  There  was  a  major  holliday ,, comming  this  weekend ,,  looks  like  some    traders made some  money  to  go  to  Disneyland  with  the  kids before  the  long  week end ......


  We  now  have what  appears  to  be  5  waves  in  play ....  look  at  the  3rd  chart  posted  here ..... WATCH  THIS  CLOSELY ...

 Bottom  line , I  am  paying  close  attention  on  Tuesday ,  when  the  market  resumes the  10550  area  looks  like it  could pose  as  an  area  of  concern    .....

 Well .....  what  do  you    think ?  

  Any  Comments ?






TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …


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## MARKETWAVES (31 May 2005)

*DOW JONES .. ( THE PULLBACK )? 5-28-05*

*DOW JONES .. ( THE PULLBACK )? 5-28-05*




  OH ,  HOW  THE  DOW  PULLED  BACK ........


  CLASSIC  *ELLIOT  WAVE  FORMATION ....*



TRADE AT YOUR OWN RISK… The purpose of these charts is to point out significant highs and lows based on Fibonacci Retracement lines and Elliot Waves which are highly subjective . This information is for educational purposes and should not be considered trading recommendations . All trading decisions are your own sole responsibility …


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