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Strategies & Market Trends : Technical Analysis - Beginners

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To: Trader X who wrote (11257)	2/3/2001 12:48:33 AM
From: Michael Watkins	Read Replies (1) of 12039

Oh lets be sanguine. Or drink Sangria. intelligentspeculator.com We don't know where this will end, but with this break and the VIX scenario, the chances of a retest of the wedge low have increased. Will it happen, who knows, don't care. Re the INDU - all I can say is the initial break of a consolidation is a zone of terrific interest for many market players large and small. Any failure to continue up, if it heads up, should probably be sold agressively. Failed test of tops are great setups. I'm assuming you were referring to the NYA not the INDU, its much closer to its all time high. Still, a bearish reversal bar encompassing two days, might well be expected to set a swing high here. One day at a time.

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