P&S and STO Death Blow's Message Board

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Strategies & Market Trends : P&S and STO Death Blow's

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To: Justa Werkenstiff who wrote (28820)	3/3/2003 8:07:38 PM
From: ajtj99	Read Replies (1) of 30712

The 13-EMA on the weekly COMP chart continues to be a very strong level of resistance: stockcharts.com[h,a]waclyyay[d20011003,20030303][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iUb14!La12,26,9!Lg!Li10,10!Lh5,5!Lp14,3,3!Ll14]&pref=G From Mid-January 2002 through the October 2002 lows we only closed above that line on a weekly basis once, in early March 2002 for Max Pain. The 13-EMA on the weekly is currently at 1343 COMP. If we close above that on the weekly and it's not options expiration stuff, you could probably get lathered up for a bit of a rally. Note on that RSI-14 on the weekly we've got 3-lower highs, which is bearish. We had that last March 2002. Also note that when the BB's pinch and go horizontal on the weekly we always drop big soon afterwards.

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