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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 679.70

+0.7%

4:00 PM EST

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To: shasta23 who wrote (28056)	9/8/2000 3:20:16 PM
From: Johnny Canuck	Read Replies (1) of 68324

Hi Stefan, I took the morning off to watch the markets. It is a short work week, but it has still been a zoo. It was like I never had a long weekend. >>"possible OBV break out in the 60 min chart" looks like? >>Is it a break to a new high? Yes, but it must be used in the context of the longer term daily or weekly chart or you will get fooled into buying a false break out. You want to have a basing configuration or a trend reversal situation on the longer term charts. It looks like we are no going to close above 4078 tow days in a row. I am not looking for a possible down side of 3840 before the Maginot line is reached. I think we still finish the month on a positive tone so as to not panic the masses before the election and to make the funds look good.

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