Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: orkrious who wrote (29992)	2/13/2002 5:29:13 PM
From: ajtj99	Read Replies (1) of 99280

Yes, the semi equips should start out weaker tomorrow. However, I would not be surprised to see the SOXX hit 581 intra-day tomorrow or Friday. That would be a .236 re-trace off the high in January. They are at the top of the BB, and the price action may play out similar to the January 7-9 top, IMO. The reason the semi's broke out is they breached the falling resistance line from the May, June, and August highs. This happened in January, and it proved to be a false breakout. Possibly recent history is repeating itself again here. This was a successful test of the recent pivot high, and now the next test is the January high at 606, which I highly doubt will be reached this trip. If this fails and the SOXX falls back, a test of the pivot low (515?) last week is next with the underlying pivot low at 499 to come into play if that fails.

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