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Strategies & Market Trends : Steve's Channelling Thread

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To: Zeev Hed who wrote (12589)	3/13/2001 6:37:21 PM
From: ajtj99	Read Replies (2) of 30051

Zeev, you mention the SPX low in the end of May. I've seen others mention early June. I'm curious how the SPX is looking near term. I believe whatever happens in next weeks FOMC, anything less than 75BP will be sold. That said, the S&P should top off short term on Monday. With tech sector rotation in full swing short term combined with end of quarter window dressing, there should be a tug of war in the SPX, possibly limiting the gains we could see. With the massive head and shoulders formation on the SPX, how do you see it playing out as the NDX and COMP ramp up on the bounce? By the way, I see you got some ISSI. That one will fight to meet Max Pain this week, which is probably 15. It most likely won't get there after today's warning, but it has been a stellar performer at achieving max pain over the past 6-8 months. Quite possibly the most undervalued chip stock, and lots of Value and Growth funds bought in January at $16-18.

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