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Strategies & Market Trends : NetCurrents NTCS

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To: Jill who wrote (6023)	3/14/2001 11:29:38 PM
From: Michael Watkins	Read Replies (1) of 8925

It seems like a grind down when we only look at the small picture, but step back a bit and the view is breathtaking. ottographs.com There should be more outward concern based on these highly directional moves as viewed on the weekly charts. 200 period moving averages on chart only because others look at them. In the SPX case, others are probably increasingly concerned. Interestingly, the SPX upper trading range measures exactly (within reason) the move down to lows of 1998. May not get there all one move, but assuming it continues to move down now or later, I think quickly traders will just pull the plug because its the easiest thing to do. Remember, we are not committed to any one scenario - this is just a what if view. I like looking at the big picture. Oops, I see I didn't quite finish off the NDX chart but really my focus now is on the SPX. The broader market is getting hit. NYSE issues seem likely to join the fray.

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