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Strategies & Market Trends : ahhaha's ahs
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To: ahhaha who wrote (1563)3/14/2001 11:47:39 AM
From: ahhahaRead Replies (1) of 24758
 
The amateurs on the MDD thread talked a lot about the "diamond formation" of the DOW. The Dow has a broadening top, not a diamond formation. However, the DOW utilities have a diamond formation and that is about as bearish as is possible. It portends rising interest rates and implies FED has 0 latitude to lower interest rates. ZERO. They already squandered their ability to act by chasing windmills with the money creation which Greenspan says doesn't matter.
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