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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (77952)	7/25/2003 10:24:06 PM
From: AllansAlias	Read Replies (2) of 209892

Big Dow test updated: angelfire.com Not much has changed. It still threatens. I'd love a brutal headfake down about 400 Dow points and then a turn back up to really go at this barrier with the added short fuel that would bring on. Will it give the dipsters such a shot? I opine that a quick failure of the breakout, with the attendant downside follow-through that would imply, is more likely if we just blow up through here. I'd love to take a shot at that dip (see "Closeup") down to 8770-8870. In any case, the Dow has not been something one has wanted to short in many months. Yup, we can find all sorts of indicators and non-price measures (sentiment, breadth) that are flashing some warnings, but price is more important. ps to Avhob: of course you can this as you please. Cheers

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