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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (59090)	11/9/2002 4:14:19 PM
From: skinowski	Read Replies (1) of 209892

Yeah, JNJ made a mighty corrective – looking advance on the daily / weekly in the recent months. Definitely worth watching. City does look like a bear bit it… just as it hit its 200d MA, and just before it was able to reach its (now) declining 200w MA. Just look how elegant MMM chart would appear IF it decides for another swing up! –g. It might complete an Ending Diagonal on the hourly chart, right into the $132 area, which is the trendline resistance on the daily, weekly AND monthly charts. By then shorts may give up, and the terrain could be set for a nice bumpy mogul race downhill! -bg.

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