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Strategies & Market Trends : News Links and Chart Links
SPXL 222.46-0.9%Dec 8 4:00 PM EST
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To: Saulamanca who wrote (1843)5/2/2002 4:09:04 PM
From: Saulamanca  Read Replies (1) of 29602
 
Wednesday, May 1st (Evening Update)

The Dow Industrials were trading down more than 100 points Wednesday morning but managed to rebound in afternoon trading to close up more than 100. A fairly impressive rebound like that would normally be considered bullish, right? Actually, wrong. Listed below are all occurrences over the past five years in which the Dow has traded down more than 100 points intraday and managed to close up more than 100. Notice that in every case the Dow closed at a lower level three sessions later...

05/01/02 Dow 100pt Reversal: ??? three days later
10/25/01 Dow 100pt Reversal: -341 three days later
08/10/01 Dow 100pt Reversal: -70 three days later
05/04/01 Dow 100pt Reversal: -84 three days later
03/09/00 Dow 100pt Reversal: -199 three days later
08/05/99 Dow 100pt Reversal: -139 three days later
10/02/98 Dow 100pt Reversal: -43 three days later
09/01/98 Dow 100pt Reversal: -187 three days later
10/28/97 Dow 100pt Reversal: -56 three days later

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