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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	5/3/2001 9:58:25 AM
From: besttrader	of 37746

09:55 ET Nasdaq Composite : -- Technical -- Sizeable retreat in early dealings but temporarily remains above support at 2160. Intraday gains back through the 2200 area are needed to improve the current weaker bias. The slide following yesterday's failure to take out resistance in the 2251/2255 area, which has created bearish divergences on intraday and potentially daily indicators, are near term concerns. It this scenario does develop there is potential back to the 2100 congestion area and the 1998 retracement.

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