Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (9453)	7/12/2002 10:03:49 AM
From: Dave Gore	Read Replies (1) of 16631

HEAD and SHOULDERS ON S&P500 - Collapse to 300? No way, of course. T/A, while useful, must be tempered by fundamental news, Market sentiment (fear, mistrust), and indiscriminate buy-sell programs, as I said yesterday. I don't become too dependent on T/A but use it with other indicators. Also stochastics readings are a big part of it. If you guys don't know about this site, you should raptorgroupresearch.com Raptor - "The expanded weekly here shows a very ominous head and shoulders pattern that has developed with support at the neckline near 923. A move below this projects to a very frightening 300, thus the 923 level MUST hold. Note however, that we have not had capitulation volume above the Sept low though as we continue to fall." He also says that a move above 980 is needed on the S&P to break out of the downtrend.

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