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Strategies & Market Trends : Raptor's Den II

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To: velociraptor_ who wrote (1384)	11/10/2003 11:22:15 PM
From: Andrew	Read Replies (1) of 3432

SP500 I see 1062 was resistance on the upper trendline and 1035ish is where the lower trendline extends to on the rising wedge. This is starting to pinch closer together. A break below the lower trendline could be the start of some ugliness or not if your inclined to be short the market. Sorry I cant post a chart with the lines drawn in but if you draw the trendlines in they would pinch and then cross at 1075 on about DEC 25th. Rising wedges always break downward unless the SP decides to go parabolic the next test of the lower trendline should break trough. And Unless of course the bulls can make it ride the upper trendline indefinately we should have a nice decline. I am shorting select big name techs. stockcharts.com[w,a]wacayyay[de][pd20,2!b40][vc60][iLa12,26,9!Lh14,3]&pref=G stockcharts.com[w,a]dacayyay[dd][pd20,2!b200][vc60][iLa12,26,9!Lh14,3]&pref=G

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