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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (3327)	5/23/2001 4:37:45 PM
From: UnBelievable	of 209892

NDX Did Fail The September January D/T Line While COMPX Has A Way To Go (As does NYA, SPX held today but right at the line, INDU has a D/T line off of he 1/18/00 and the 9/6/2000 highs which measures to about 11065 where it crosses the U/T line from the 4/4/01 bottom and the 5/16 bottom ((the bottom line of the rising wedge which began on 4/4)). INDU should have a fair amount of support at that point. BTW - What do you see this 5 being worth? I was holding puts into the open and sold them somewhat early in the day, and began buying calls based on the expectation of a 5 before the "Big Down" (you guys are doing so well it is kind of hard to ignore you <gg>). What might a failed 5 look like and what would a normal 5 look like? Is there an alternative count if we were to just plunge through the remaining support?

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