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Strategies & Market Trends : MP - Market Pulse

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To: s berg who wrote (1165)	8/9/2001 10:55:22 AM
From: HairBall	Read Replies (1) of 1328

s berg: My "biggest" concern is...can MSFT satisfy at least a partial retrace of its Dec 00 Rising Wedge without causing the COMPX (NASDAQ Comp) to negate its 5/22 Falling Wedge. I have been expecting offsetting price action in other issues. Even though GE is not in the COMPX, I think it important it retraces some of the move of its 6/2001 falling wedge. The technicals look supportive, but one never knows for sure until the market plays out... The NYA just penetrated the resistance line of its 5/22 falling wedge which should be providing support. Next major support for the NYA would be the 7/24 low (596.05) The intraday trending support line for the COMPX at about 1945 gas been breached which brings into play the support at the 7/24 low (1939.28) and 7/11 low (1934.67). Regards, LG

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