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Strategies & Market Trends : News Links and Chart Links

SPXL 194.72

-4.6%

Nov 20 4:00 PM EST

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To: Les H who wrote (265)	6/5/2001 10:05:54 AM
From: Les H	Read Replies (2) of 29597

sell-off retracements hit today SPX just hit .38 retrace at 1273-1274, OTC .50 retrace at 2205 Today or tomorrow is potentially a very short-term peak since May 21 was the two-thirds point in the 10-week cycle off of the April 4 lows. The first third, or about 7-8 days, of the time from May 21 to June 13 was supposed to be bearish. The next third, or about 7-8 days, is supposed to be bullish. And the final third should be bearish till June 13. The alternate scenario, if one uses the March 22 low as the anchor, would've placed the 10-week cycle low last Wednesday or Thursday.

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