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Strategies & Market Trends : Charting & Technical Analysis for Stock Indexes

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To: advocatedevil who wrote (41)	11/16/2001 4:43:19 PM
From: chartwiznyc	Read Replies (1) of 211

Thanks for the complement......as you could see today we had non confirmation to the downside......DOW & SP made new lows on afternoon retest & nasdaq didnt, IBM didnt, & INTC - MSFT all day had been holdng support at 120 min charts....INTC bullflag......SEBL & BRCM also 120 min bullflags......so with the divergences how could we get bearish in a range.....My work in my chatroom today was such...okay we have Bullflag on INTC 120 min chart & 30 min bear flag on IBM....divegrnce....put shorts on IBM becuse SP NAS & DOW where trending lower.....when we had divergence at the bottom.....We then looked to long side on IBM BRCM INTC SEBL EMC CIEN SPY QQQ DIA into closng mins......path of least resistance was up..........but was key to not chase the markets heavy in the range, those sharp up & down rallies where just part of normal range contraction enviorment, stocktrendwizard.com for trading this kind of market.....Chris

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