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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: OX who wrote (28608)	8/29/2000 9:58:51 AM
From: donald sew	Read Replies (1) of 42787

Just woke up and a bit under the weather so was unable to get the INDEX UPDATE out before the open. The overall market is slightly down this morning which implies that the CLASS 1 SELL signals may be working; however it should be mentioned that the response was late which implies that this specific short-term pullback could be small. I must mention the BULLISH WEDGE on the VIX(bearish for market), and the upper trendline of that WEDGE for the VIX is slightly under 20 for today. So it wouldnt take much for the VIX to break above the UPPER TRENDLINE of the WEDGE. Although, Im not expecting a strong short-term pullback, the position of the VIX is worrisome and could be a hint that the selling could intensify rather quickly. So until the WEDGE in the VIX remains intact, I will stick to a small pullback, but if the WEDGE is broken to the upside, I will then have to re-evaluate.

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