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Strategies & Market Trends : News Links and Chart Links
SPXL 220.09-3.3%Dec 12 4:00 PM EST
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To: ajtj99 who wrote (149)5/14/2001 11:27:11 PM
From: Les H  Read Replies (1) of 29602
 
The Dow and SPX have yet to roll over. 10,800 and 1240 have been tested thus far. Looks like short-covering at the close and very short-term timeframes seem to call for a minor pullback and perhaps rally on the expected cut of 50 bps. The 30- and 60-minute time frames seem conducive to a rally. The difficulty with Fed days is the first and sometimes the second move is not the real move. Should expect some counter-upmove soon before the real down starts. I think SOX broke the recent low which was also the fib .38 retrace.

There is also the CPI report in another day where the gas price jumps will start to be noticed.
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