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	<title>Technical Analysis of Stock Trends &#187; indu</title>
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	<link>http://www.edwards-magee.com</link>
	<description>The Foundation Upon Which Technical Analysis is Built - WHC Bassetti</description>
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		<title>Bull, bear, mule&#8230;.greased pig?</title>
		<link>http://www.edwards-magee.com/2010/08/28/bull-bear-mule-greased-pig/</link>
		<comments>http://www.edwards-magee.com/2010/08/28/bull-bear-mule-greased-pig/#comments</comments>
		<pubDate>Sun, 29 Aug 2010 00:45:49 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2201</guid>
		<description><![CDATA[
http://stockcharts.com/h-sc/ui?s=$INDU&#38;p=D&#38;yr=1&#38;mn=0&#38;dy=0&#38;id=p03149889863&#38;a=204730441
Sometimes the lexicon is strained to describe the market.  While this is technically a mule (or sideways) market, mule hardly describes it.  In the past we have made significant contributions to the nomenclature &#8212; Kilroy (H&#38;S) Bottoms, bungee markets, squirrel markets, dumpity bumpety patterns&#8211; (we understand that these contributions have been eagerly adopted in Roumania [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>Nobody knows, and distrust anyone who acts like he does.</title>
		<link>http://www.edwards-magee.com/2010/08/21/nobody-knows-and-distrust-anyone-who-acts-like-he-does/</link>
		<comments>http://www.edwards-magee.com/2010/08/21/nobody-knows-and-distrust-anyone-who-acts-like-he-does/#comments</comments>
		<pubDate>Sat, 21 Aug 2010 19:09:14 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[indupf]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2171</guid>
		<description><![CDATA[
http://stockcharts.com/h-sc/ui?s=$INDU&#38;p=D&#38;yr=1&#38;mn=0&#38;dy=0&#38;id=p03149889863&#38;a=204730441
For readers within driving range of San Francisco the finest technical analysis society in the country, and the oldest (tsaasf.org) meets monthly at Golden Gate University.  Last Thursday the society met and discussed both Wyckoff and the state of the market.  Do they know what&#8217;s going to happen?  No, but neither does anyone else.
But we [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>A trendline, a trendline.  My kingdom for a trendline&#8230;</title>
		<link>http://www.edwards-magee.com/2010/08/19/a-trendline-a-trendline-my-kingdom-for-a-trendline/</link>
		<comments>http://www.edwards-magee.com/2010/08/19/a-trendline-a-trendline-my-kingdom-for-a-trendline/#comments</comments>
		<pubDate>Thu, 19 Aug 2010 23:30:23 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2162</guid>
		<description><![CDATA[
http://stockcharts.com/h-sc/ui?s=$INDU&#38;p=D&#38;yr=1&#38;mn=0&#38;dy=0&#38;id=p03149889863&#38;a=204730441
It appears that dumpity bump pattern may be setting up.  (sell off, thrust up, sell off)  At the least we can now draw a downtrend line from the high 9 days ago.  We estimated that this downwave would be about 5 days &#8212; it was 6 before a three day upwave furnished us with the [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2010/08/19/a-trendline-a-trendline-my-kingdom-for-a-trendline/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Hanging in the balance&#8230;</title>
		<link>http://www.edwards-magee.com/2010/08/15/hanging-in-the-balance/</link>
		<comments>http://www.edwards-magee.com/2010/08/15/hanging-in-the-balance/#comments</comments>
		<pubDate>Mon, 16 Aug 2010 01:40:10 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2148</guid>
		<description><![CDATA[
Here the crucial trendlines from the March 09 bottom.  Any way you slice it the sloped trendlines are almost irrelevant at this point.  The dominant and ominous line is the horizontal line across the wavelow made in July.  The dominant line was that from July 09 &#8212; a 10 month line, whose breaking presaged the [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Surge.  Drift.  FLUSH!!!  That flushing sound you hear is Congress flushing the economy.</title>
		<link>http://www.edwards-magee.com/2010/08/11/surge-drift-flush-that-flushing-sound-you-hear-is-congress-flushing-the-economy/</link>
		<comments>http://www.edwards-magee.com/2010/08/11/surge-drift-flush-that-flushing-sound-you-hear-is-congress-flushing-the-economy/#comments</comments>
		<pubDate>Wed, 11 Aug 2010 21:10:16 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2142</guid>
		<description><![CDATA[

http://stockcharts.com/h-sc/ui?s=$INDU&#38;p=D&#38;yr=1&#38;mn=0&#38;dy=0&#38;id=p52855211355&#38;a=205639989
It is obvious that the market has not yet settled down.  We think that it is expressing strong, if not paranoic  doubts about the ability of the Congress to avoid a double dip recession.  And considering the competence (and courage (lack of)) of that venerable institution  we can well understand its neurosis.  Robert Shiller has [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>Rasors be damned.  Systems stop taken out.</title>
		<link>http://www.edwards-magee.com/2010/08/02/rasors-be-damned-systems-stop-taken-out/</link>
		<comments>http://www.edwards-magee.com/2010/08/02/rasors-be-damned-systems-stop-taken-out/#comments</comments>
		<pubDate>Tue, 03 Aug 2010 03:27:10 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[aug10]]></category>
		<category><![CDATA[indu]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2127</guid>
		<description><![CDATA[
http://stockcharts.com/h-sc/ui?s=$INDU&#38;p=D&#38;yr=1&#38;mn=0&#38;dy=0&#38;id=p03149889863&#38;a=204730441
While there are still razors all around us today&#8217;s action tripped the Basing Point Stop signaling a buy in the indices.  We bought the Dow, S&#38;P and Qs ETF s and closed our gold hedge.  The buy signs were all over the place in just about everything.  We will cover them tomorrow morning.  In the [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2010/08/02/rasors-be-damned-systems-stop-taken-out/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>More violence than The Girl Who Played with Fire&#8230;</title>
		<link>http://www.edwards-magee.com/2010/07/17/more-violence-than-the-girl-who-played-with-fire/</link>
		<comments>http://www.edwards-magee.com/2010/07/17/more-violence-than-the-girl-who-played-with-fire/#comments</comments>
		<pubDate>Sat, 17 Jul 2010 19:15:56 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[gld]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul10]]></category>
		<category><![CDATA[tlt]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2068</guid>
		<description><![CDATA[Yesterday we pointed out that the upwave had ended and today the market wreaked vengeance on any traders who ignored that trendline.    It is entirely possible that we will see a violent downwave here, and if you are trading you should have used yesterday&#8217;s power bar to get short, and the hourly chart to [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Double crossed and death crossed. And Dow Theory crossed.</title>
		<link>http://www.edwards-magee.com/2010/07/09/double-crossed-and-death-crossed-and-dow-theory-crossed/</link>
		<comments>http://www.edwards-magee.com/2010/07/09/double-crossed-and-death-crossed-and-dow-theory-crossed/#comments</comments>
		<pubDate>Sat, 10 Jul 2010 00:46:03 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul10]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2060</guid>
		<description><![CDATA[Considering the number of short term trend changes we have seen lately, including the close below our stop investors could be excused for feeling double crossed.  Then, on top of that the fabled and feared death cross has occurred.  The &#8220;death cross&#8221; is illustrated above and occurs when the 50 day moving average crosses under [...]]]></description>
		<wfw:commentRss>http://www.edwards-magee.com/2010/07/09/double-crossed-and-death-crossed-and-dow-theory-crossed/feed/</wfw:commentRss>
		<slash:comments>2</slash:comments>
		</item>
		<item>
		<title>Power bar off the bottom.</title>
		<link>http://www.edwards-magee.com/2010/07/07/power-bar-off-the-bottom/</link>
		<comments>http://www.edwards-magee.com/2010/07/07/power-bar-off-the-bottom/#comments</comments>
		<pubDate>Thu, 08 Jul 2010 03:08:57 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul10]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2054</guid>
		<description><![CDATA[
In market conditions like we have experienced the last thirty or so trading days you must be prepared to change your trading posture according to the situation right now.  Today the market powered up in move that must be respected.  The letter we wrote earlier today is still good advice and is worth being followed [...]]]></description>
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		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Dead cat bounces and the true state of the market.</title>
		<link>http://www.edwards-magee.com/2010/07/07/dead-cat-bounces-and-the-true-state-of-the-market/</link>
		<comments>http://www.edwards-magee.com/2010/07/07/dead-cat-bounces-and-the-true-state-of-the-market/#comments</comments>
		<pubDate>Wed, 07 Jul 2010 15:31:21 +0000</pubDate>
		<dc:creator>WHC Bassetti</dc:creator>
				<category><![CDATA[Letters]]></category>
		<category><![CDATA[indu]]></category>
		<category><![CDATA[jul10]]></category>

		<guid isPermaLink="false">http://www.edwards-magee.com/?p=2051</guid>
		<description><![CDATA[Tuesday didn&#8217;t furnish much of a bounce, but as this is written Wednesday one could think &#8212; well, maybe this is over.  And maybe this downwave is over, but what is not over is the general state of the market.  Which is in a trading mode.  And the trading mode is within a downtrend.  During [...]]]></description>
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		<slash:comments>0</slash:comments>
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