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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (10957)	8/24/2001 10:25:47 AM
From: JRI	Read Replies (3) of 209892

It looks like the upper-line for the down channel for COMPX comes out around 1885...but the NDX is around 1560, which corresponds to a higher COMPX...around 1895-1898... I am thinking that we get to the NDX resistence (Onishcka's idea) vs. the COMPX...for if we go thru the COMPX 1985, we will get short-covering there, and I could see a quick 10 COMPX points...which wouldn't be the same as breaking it (in my opinion), but would APPEAR SO... So, if my strategy is right, IN SPIRIT (COMPX) and in reality (NDX) the upper line of the down channels will hold, and provide good r/r....either a corrective within/after the 3 or the end of the C...either way down I may play a 1/2 position at COMPX 1985 or so, and another 1/2 at the NDX channel line....or just wait totally for NDX line...I am undecided..

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