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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.92

-0.7%

Dec 31 4:00 PM EST

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To: dppl who started this subject	9/7/2001 11:58:20 AM
From: j g cordes	Read Replies (1) of 69358

Have had 9500 Dow as a ta target for some time.. with hope of the Naz strengthening relative to other averages. At this level there seems to be some impatience among traders to get it over with.. drive prices down to test April lows and see what happens. So what then? We rally to Naz 1900 and Dow 9950 on another interest rate cut.. then drop lower for a test of the re-test? Or will inventories finally look like they need replenishing, anticipating holiday season. 9500 is also the top of the market and support going back to 1998 on a monthly chart. 8350 area is below that and would be capitulative on the trading floor.

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