Stocks Crossing The 13 Week Moving Average <$10.01 Message Board

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Strategies & Market Trends : Stocks Crossing The 13 Week Moving Average <$10.01

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To: James Strauss who wrote (5089)	9/17/1999 1:13:00 PM
From: James Strauss	Read Replies (1) of 13094

A Reversal Or A Trap... ************************* A nice pop in the market today as the S&P 500 bounced off its 200 day MA... We have a Symmetrical Triangle forming with lower highs and rising bottoms... iqc.com We should get a resolution in the 1330 to 1354 area... There appears to be a breakdown in the McClellan Summation Index... decisionpoint.com The New Lows look ominous... finance.yahoo.com On a day when the Dow is up over 100 points we have the New Lows overshadowing the New Highs by a 3:1 ratio... Sustained rallies are not made of this kind of stuff... The number of New Lows should be decreasing and the Number of New Highs should be increasing in a normal sustained rally environment... Unless we see that, this rally will be short lived... Jim

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