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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 689.100.0%Jan 23 4:00 PM EST
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To: Johnny Canuck who wrote (41108)4/22/2004 7:41:05 PM
From: Johnny Canuck  Read Replies (3) of 69966
 
Back on the bullish side for the COMPX. We created a higher low and reversed up above quite a number of minor resistane levels at 1984, 1994 and 2000 with ease. Today was a confirmation day. Intra-day COMPX is overbought, so a little steam should come out of the system on day 3 tomorrow. Essentially one should be looking for longs now as individual stocks pull back due to sector rotation.

CAT beating estimates and giving higher guidance confirms the strength in the economy and its recovery.
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