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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (115918)	4/3/2005 10:18:52 AM
From: skinowski	of 209892

In the end, keeping it simple, we saw a rather strong downtrend since March 7. The market couldn't make even a decent bounce, despite being oversold... bulls showed no oomph at all. The DOW - as I think you noticed somewhere - is testing the low made on Jan 24, and SPX even printed a fractional new low. VIX and VXO rallied, and are near the upper side of their recent ranges, but VXN - reflecting the (weaker) Nasdaq - is still near its lows. We must be close to a rebound, and when it occurs, reading it correctly could be rather profitable....

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