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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 691.66

-0.1%

Jan 16 4:00 PM EST

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To: Clint E. who wrote (33287)	7/6/2001 12:58:49 PM
From: j g cordes	Read Replies (1) of 69854

Clint, so right about holding off on announcing, but now the markets doing it for them. I've been looking at retail sector and its not faring well either.. HD, WMT etc. Did you notice the tick trin inbalance.. retail traders are buying enough to keep it positive, while heavy block selling by institutions is keeping trin numbers very high. There's a good deal of background selling going on. EMC's monthly chart shows a classic head and shoulder, problem is there's no clear base before its run up over the last seven years.. perhaps to technicians 15-16 looks solid. 27-32 now looks like overhead r. Outside stock prices, I'm looking at currencies. The dollar is high relative to EURO and Yen, EURO community is keeping its interest rates high.. the Japanese are giving money away to their banking system. Not sure how the readjusting will unfold and what its effect will be on absolute, not realtive, prices of stocks.

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