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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	2/23/2001 4:20:51 PM
From: velociraptor_	of 37746

Believe it or not...we are still within the down channels so nothing has changed. Remember to keep a watch of the indexes in several time frames as just the intraday doesn't tell the whole story. The S&P went down to bounce off the lower channel boundary and then made an end of the day shot to hit the upper boundary where it turned back down. Nice. In the bigger picture nothing has changed...in fact, it appears that we may have finished wave 1 of 3 of 3 down, and could be in for a small correction. This correction may be complete. If so, 3 of 3 of 3 down is next which would be right one target for a potential Monday crash. The Nasdaq is in the same boat, except here, it penetrated the lower channel line only to get pushed back inside. Upper channel boundary is not until about 2300 and we have not crossed this yet. Looks good so far....

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