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Strategies & Market Trends : News Links and Chart Links
SPXL 224.48+0.4%Dec 5 4:00 PM EST
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To: Chris McConnel who wrote (6577)3/14/2003 9:13:26 AM
From: pallmer  Read Replies (1) of 29601
 
March 14 pre-open: If your keeping track, thats the 22nd time we've had a bounce of 3% or greater in this 3 year Bear market........50% have followed thru to resistance levels (downtrend lines, 50 or 200MA's), 50% were one day wonders and none have produced anything more than a choppy bounce in the overall downtrend. The volume surge and hard pullback in bonds suggests we could see a bit more upside in stocks (SPX 840-50?), however, setups such as IBM, BAC and countless others suggests this will be yet another short lived bounce back to resis before another leg down........capital preservation should remain the number one priority for those less aggressive.

thresholdtrading.com
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