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Strategies & Market Trends : Classic TA Workplace

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To: Henry J Costanzo who wrote (134291)7/13/2006 9:21:10 AM
From: skinowski  Read Replies (1) of 209892
 
Back to that line -- SPX is set to gap below it, which is bearish, unless it recaptures it soon. In the wiggles, the decline from 7/11 top looks like an impulse which may be completing this morning its fifth wave. This suggests that there is a possibility for a bullish resolution... a reversal today. BUT - I wouldn't go nuts and go long until I see something happening... to the upside. Time to be careful, imo... with disciplined stops on any aggressive entries.
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