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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 681.92-0.7%Dec 31 4:00 PM EST
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To: Johnny Canuck who wrote (38846)1/28/2003 2:29:34 AM
From: Johnny Canuck  Read Replies (1) of 69358
 
T2113 = 43.7 at 1. 100 and 200 EMA's long gone at 38. It is approaching a congestion area on the daily charts. Daily McClelland Oscillator at -194. I expect a bounce in the next day or so. It will be delayed by the Fed meeting while traders sit on the side line. I expect the Fed to be a non-event though. The bounce will not last long. Look for a break of 1330 intra day, to see if the bounce has strength. I expect a re-trace back down soon after. Time to go back to day trading only.
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