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Strategies & Market Trends : Classic TA Workplace

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To: John Pitera who wrote (39103)	5/14/2002 1:05:17 PM
From: John Madarasz	Read Replies (1) of 209892

yes..for sure this is a very important technical zone. Typically a rally back to test the dashed yellow N/L of the H/S would be in order,( and it's where we are right now) but i think that formation has been played out...even though it didn't get the last two points of it's measurement. macro analysis leads me to believe a stronger right shoulder might get put in on the Inv H/S formation...and eventually a move to break out over $30 vs. a re-trace to $15 to make the meas. is the odds favorite. Middle east tensions are too overpowering, and i think Russia will have to play the game vs. flooding the market with supply. The U.S.A is already losing it's juice as the war against Terror drags on, and world players continue to snub and jockey for position ... weaker $ is in the cards longer term.... but many people are forgeting that until the uptrend line from 1995 is challenged around the 102 area, the $ REMAINS in it's LONGTERM BULL MARKET. 110-111 is also a huge support zone stockcharts.com Any gains that U.S. corporations pick up from a weak $ helping exports will be offset by increased energy expenses...and if Senate Bill S.1940 goes through...increased corporate taxes for major corporations as they are forced to expense options will keep earnings...and stock prices... in check going forward... bear market rallies notwithstanding of course<gg>

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