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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.10

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Jan 23 4:00 PM EST

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To: Johnny Canuck who wrote (36205)	2/21/2002 3:15:07 AM
From: Johnny Canuck	Read Replies (1) of 70035

Comments Sept 20,2002 Strange day. We got the bounce we expected, but the intra-day pattern was out of character. COMPX had a slightly up open at 1762 after a 1750 close yesterday. It then promptly sold off till about 1 PM EST when it break the range of the past few days and set a new low at 1729. It then reversed strongly and easily worked its way through 1740. It then set a new range by bounce into resistance at 1770. It finished the day at 1775. It needs to take out 1780 tomorrow to confirm the rally for the next 2 days. We did not get a -1000 tick so don't expect more than a 3 day counter rally right now. ADPT and GNSS would be my choice for the bounce.

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