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Strategies & Market Trends : P&S and STO Death Blow's
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To: Jeff who wrote (23025)1/9/2003 6:29:57 AM
From: Justa Werkenstiff  Read Replies (2) of 30712
 
Jeff: I misjudged the exact pattern of the up because I failed to see the Bush speech as like an FOMC inflection point event at that time IMO looking back in hindsight.

Usually, the first big day calls for a retreat. It started to happen on Friday but it was just a pause. I speculated then that Bush event was holding the market up and that seems to have been the case.

Thanks for the Sto idea. Will look into it.

But I think the larger point you should consider is that once this pattern completes -- and we might have a retest of the highs next week -- the market moves to lows below those of December 31st. What is happening now, IMO, is that the market is resetting itself to move to lower lows.
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