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Strategies & Market Trends : The Player's Club

SPY 685.66

+0.2%

4:00 PM EST

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To: wlheatmoon who wrote (3925)	1/7/2000 2:54:00 PM
From: John Pitera	Read Replies (2) of 11513

Ok Mike, here is a 10 min SPX chart that is showing a confluence of signals that -may- give us a sell zone. we have a 50% retracement of the week's decline, a rising wedge which is a bearish edwards and Magee chart formation and a momentum divergence on the Rate of Change Oscillator so we have a cluster of items saying a similar thing in the same basic price zone. geocities.com what nice about this set up is that if we go through the 50% area materially, while negative the rising wedge and making a new momentum high it will tell us this sell is not validate and we either get sq or long. John

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