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Strategies & Market Trends : Classic TA Workplace
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To: jjstingray who wrote (92997)3/10/2004 5:42:01 PM
From: SwampDogg  Read Replies (1) of 209892
 
The bigger picture is this IMO:

1) $TRAN has been diverging from the $DJI for the last 6 weeks and this is a DOW sell signal.

2) Downside volume is expanding here.

3) $BKX hit top of long term channel and has sold off pretty hard

4) WMT does look like a failure

5) Bond market is a whole lot smarter than other markets and it is screaming that economic growth is in trouble

6) Bullish sentiment is at joke levels

Let's see what happens when the DOW takes out 10,000.
As far as highs go, I think that they are in for a long long time. Draw a line on the $SPX connecting the high of 1998 with those of 2001, 2002 and 2004.
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