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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (17948)10/24/2001 11:37:45 PM
From: Chip McVickar  Read Replies (1) of 209892
 
SPX

The six bar pattern is complete
Today's bar formation is a clear signal of new solid movement.
Tomorrow will see a move higher...., but time is running out.

Close Fibs.... .618 off 8/27....50% off 8/2.... .382 off 5/22
Also WTC resistence line

RSI 5-12-14 are above 50
obv has a double bottom

The SPX is up against fork median lines from 1/3/00 and 12/21/00
Also two upper tines are involvled.

This whole area is constricted at 1100spx
The next day is important to any run.
Small pull-back or flat would be Okay...!
But.., running out of time.

Volume studies on the DJIA are showing a large move is setting up to get above recent highs and 9605.

Cycle Low in place on the 22nd...
Cycle high 11/15....
Spiral Structures are positive to carry the markets that far

Chip
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