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Non-Tech : Raptor's Den
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To: velociraptor_ who wrote (2136)7/26/2002 10:52:36 PM
From: ajtj99  Read Replies (1) of 10157
 
Velo, I think if they can hold this up for just a bit longer you'll have to qualify this as our strong rally. Actually, the SPX is within 4 points of what I had for a top for it on this rally. However, it could also just be a chop on the way down to 733 SPX. We'll know soon enough.

The problem is that we should really finish this off before we go lower. Ideally that would mean a drop to NDX 850 and COMP 1192 for a double bottom, taking the SPX with us, and ramping back up to above COMP 1350 and around SPX 960 and maybe around Dow 8350 (that one I'm not sure about).

The problem with the August 1-2 dates for a low is that the Dow is nearly always up the final two days of the month. We are not doing that drop without the Dow and SPX.

Check out some of the end of month/beginning of month prices on the Dow, and compare them with other times of the month:

table.finance.yahoo.com
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