Ahh Canada - 2 out of 3 ain't bad Message Board

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Strategies & Market Trends : Ahh Canada - 2 out of 3 ain't bad

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To: Cush who wrote (3995)	1/15/2002 1:08:12 AM
From: Michael Watkins	Read Replies (2) of 5144

Weekly Charts trendvue.com Despite the pullback in tech, and even the S&P500, a downswing has still not been triggered on the weekly charts. Unless the market is getting ready to fall off a cliff here (and very soon), its likely that some of the pullback will be retraced... although 1/14's intraday action might have been all the retracement for all we know. Daily charts trendvue.com The TSE 60 has set a lower swing low already on this pullback; the S&P is close to that point and will likely test on Tuesday. The next few days are quite critical as the outcome of the test of the range defined on the daily charts may result in a change of longer term trend (not just this pull back) (to down) or another meandering within the range with perhaps test at the top end of the range at some future point. Although the potential for bad news, coupled with the topping action in most of the momo names; and ugly charts in the non momo names, seems to suggest that a test of the range bottom will fail - still, all sorts of diabolical scenarios can play out here. One day at a time... stops in place...

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