MARKET INDEX TECHNICAL ANALYSIS - MITA Message Board

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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA

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To: bobby beara who wrote (561)	8/10/1999 4:29:00 PM
From: set	Read Replies (1) of 19219

> bollinger got his crew today and bought the lower 50 day band -g- what a guy. there's some chance we just finished a 3 down today. let's call it a 3:1 from the top. That triangle you pointed out earlier could be a 4 of that 3 and now maybe a 4:1 will break the unbelievable monotony of the past couple weeks. AMZN may look like it broke and H&S, but there are good reasons not to be short that thing now. 1) just filled a gap from December (BTW the SPX just filled a gap today from march). 2) Gann line support right here and so far it's holding closes. Next Gann resistance is right at 100 so I bet it jumps there quick. 3) An informal rule I follow about H&S patterns is that if the right shoulder is smaller than the left one it's probably something else pretending to be an H&S rather than the real thing. INTC looks good to short, here or very soon. I agree with you. It just needs a general market rally to sell into and maybe that about to happen. Shahar

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