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Strategies & Market Trends : Group Theories

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From: macavity	9/25/2004 5:19:35 AM
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Weekending 25/26 September (Stocks). Short-Term In the short term Stocks are now o/sold. I have 2 flag warnings everywhere! On the IT front although momentum has turned down, and weekly charts are now down (outside lower week) the trend is not bearish, and we should respect the IT Trend. There is a gap above, so that will offer some attraction/resistance, but should daily charts turn up here then up is where I believe we will go for a day or two. There is enough gas, and though we are/were IT o/bt we did not read an extreme reading. IT view is neutral to bearish. A S/T move up is likely to challenge GAP and weekly high. Continuation down will add to the evidence that we just saw an IT top. Short NQ - cover/reverse on any S/T Rally here ($NDX holding above 1415/20) -macavity

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