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Strategies & Market Trends : Ask DrBob
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To: heehee1 who wrote (33238)5/10/2001 2:44:50 PM
From: eichler   of 100058
 
heehee,

I am in agreement with your comments. I do think though
the market will hold up until Tues. There is a battle between the thought you expressed and the idea that market players have now bought into that the coming rate cut will fuel another explosive rally. Being that the coming cut has largely been priced into the market, I'm thinking the reaction from the event itself will be the opposite of the expectation. Looks to me the $compx is forming a rising wedge on the daily chart. I would think the result (down) should be similar to prior manifestations of this pattern.
BWDIK
Regards,
Eichler
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