Sharck Soup Message Board

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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	4/19/2001 2:25:30 PM
From: besttrader	of 37746

Velo, we hit SPX 1249.86. Is that close enough? If not, then can we gain 9 pts today, and short today? Do you think these extra points can come from a gap up tommorrow? Good earnings could gap us over the 1258 number and it's SPX 1300 here we come. (Not to mention NAZ 2250). A fibonacci extension of 1.618 times wave A would give wave C a length of 166 points from 1092 for a target of 1258. This level is also horizontal resistance as shown in red. Coincidentally, this level is also near the 0.618 retrace level for the decline from 1380 to 1081. I suspect that any further rally in this index will be capped at this level.

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