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Strategies & Market Trends : Rande Is . . . HOME

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To: The Flying Crane who wrote (44783)	1/5/2001 6:57:46 PM
From: JLS	Read Replies (3) of 57584

Crane, good points. If you draw the downtrend line on the Nasdaq from the Sept high, every attempt at a reversal to the upside has been thwarted by this strong downtrend. The right side of my line falls around 2775 on the daily chart. We were only about 175 points away from that test after the Fed rally but now we are much further. Plus with these two inside bars we will have to test either the high or the low of the big Greenspan bar...who knows at this point which way it goes. And a failure of that bar, well then it's man the lifeboats. In a very twisted way Greenspan's announcement was perfectly timed as the Nasdaq was going off the cliff. Now what will prevent that from happening?

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