Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 662.72

+0.4%

Nov 19 4:00 PM EST

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To: Johnny Canuck who wrote (36439)	3/15/2002 10:07:42 AM
From: j g cordes	Read Replies (1) of 68130

GNSS.. stockcharts.com[w,a]daclyyay[dd][pi!b200!f][vc60][iUg!Lk14]&pref=G don't know if this chart will help but April lower pattern for many techs are probably going to repeat. The shaded horizontal bars show price/volume activity.. normally a gap wants to be tested up or down before reversing trend (currently down).. that gap at 40 is where it fell through its 200 day moving average, pretty significant resistance.. and there's an old gap from last year that was never tested. I'd say that last July/August 37-38 price will be resistance. seems there's more sideways work to be done before this big selling is resolved. Money flow, obv, acc/distribution, etc all have been anemic.. GNSS has been going down while there's been some optimism in semi's and some other techs.. not good. Good news could rekindle upside momentum but I'd think this will be sideways-down into first week of April when spring rally cycle enthusiasm begins shopping for recently fallen winners. then I'd hazard it could run to challenge 200 day moa Jim

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