Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 48.79

-1.7%

Dec 11 4:00 PM EST

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To: da_cheif™ who started this subject	8/27/2002 8:23:35 PM
From: Runomo™	of 207308

So far the pullback is very orderly, healthy, and within the rising trendline. Quick violations often happen and tomorrow sets up as a case in point of early morning sell off which should reverse later in the day. It would be farfetched to conclude from the action so far that the July lows will fail just on the strength...or let's say the weakness of current pullback imo. For the Naz, as an example, it is testing the middle of it's W after a breakout from a potential double bottom, a very common and necessary technical move.... or for those IBD readers.... we are drifting lower on relatively low volume forming the handle of da cup ...or if u prefer...we are forming the right shoulder of a potential double headed inverse head and shoulder bottom. So heck, what's not to like : ) Mo

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