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Strategies & Market Trends : Steve's Channelling Thread

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To: m1o2n3i4c5k6 who wrote (18225)	6/18/2001 6:34:02 PM
From: Zeev Hed	Read Replies (4) of 30051

Actually, 2078 is a "top of the range" level, the recent low from which we bounced), but a better resistance is really the 2052/7 which served as a double bottom on the original launch to the 2250/2338 area. Don't expect us to get there in one day (if we do develop a rally, it probably will continue until Wed. morning, just to relieve the oversold condition). My cycle has Wed. afternoon as a local top, thus my "intuition" of a test from below of the 2050-78 area in the next two days. I have the 21st as a start of a very bad move (probably starting later Wed.) I am not in tomorrow morning, so I am not going to go after hours into the market, just one "swing" I can live without. As for the target for the 1850 level, yes I expect that one to happen before or on, July 2nd, but not necessarily on the 2nd. Zee

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