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Strategies & Market Trends : DAYTRADING Fundamentals
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To: eric012 who wrote (6206)12/27/1999 9:44:00 AM
From: Matthew L. Jones  Read Replies (1) of 18137
 
Dan,

FWIW, the S&P is overbought on the 30 minute chart and the current intermediate uptrend is 36 points (odds of reversal 3+:1), and has lasted 27 bars (30+:1 odds of reversal). This market must pull back and consolidate very soon. My guess is about 14 points on the March futures. The longer trend is still very much up, however.

Matt
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