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Politics : Idea Of The Day
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To: Jerry Olson who wrote (34894)10/27/2000 2:04:23 PM
From: Peace  Read Replies (1) of 50167
 
Hi OJ,

For now it looks like a breakout from the downtrend. Sure it could reverse down but it has shown strength since 10/18 even though the SPX & NAZ have had severe pullbacks. 10,600 is the 50EMA. It completed 5 waves down from the 11400 high. If this is a bear market rally it should still get to the 11700 area where the 62% retrace level and the 200EMA will be hard to overcome. If we can overcome those levels then we will be looking at new highs.

Peace
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