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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (16343)	10/12/2001 11:25:37 AM
From: AllansAlias	Read Replies (4) of 209892

Yup. Jello wins (for now). Price now retracing to the bottom of the S&P futures triangle. If it does not fall through, then we'll get one of those setups where price dribbles out the end of a triangle and this signals the worst sort of tight jello possible -- best to stand aside and wait for a significant price move and not get distracted by the wiggles. We are already so close to the apex of the triangle that this is a decent possibility. Following our idea that COMPX might be in an ending diagonal, then we are in the tortured trip to the lower edge of the wedge. It should hit around 1688 before the next swing up.

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