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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: GROUND ZERO™ who wrote (6046)	10/9/1998 3:00:00 PM
From: The Jedi	Read Replies (1) of 44573

Reason for upcrash is that if we take out resistance then the short covering will by itself push things much higher. Since Tue we went down 80 points from high 1015 to low 935 on the SPX and now have recovered 55 points that is 68.75% which should be the max if we are to continue going down. So either we turn down here from 980 or we keep going up. My overall sense is that we are still in a down market. This info doesn't help in position or day trading. Kiri

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