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Strategies & Market Trends : Classic TA Workplace

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To: steve from ihub who wrote (112269)	1/22/2005 10:42:21 PM
From: Galirayo	Read Replies (3) of 209892

Steve .. Not much Ewave in this but, I'll share my thoughts. On the NDX I have support on a Fib at 1508 .. that's broken. Next Fib looks to be 1468 which has horizontal support too. I think the Gann Fan on the 45* should be near the 1556 that was taken out on the trend line area a few days ago. I'm not very bullish on the NDX for Monday. It's looking more like a momentum build to me. It needs to recover to 1508 or the momentum will carry .. We'll know soon. I didn't even look to see where the 200 is until now .. It looks close to 1468. The Next Fan line should be good support too .. somewhere near the next Fib # of 1429 which is also Horizontal support. On a MoMo down it could carry past the 200 near 1468 for a bounce back above. Those usually have a Nice SPRING Action to them. Every action has a reaction and all that stuff. I think MC is looking to the 2000dma area as well. I also think it's going where ever it's going faster than we've seen lately. ROC for this one. stockcharts.com[w,a]dacayiay[dc][pb200!h.02,.20!f][vc60][iut!Uh16,14,14!Um12]&pref=G Ray chtruu .. can you spare a Gann for the NDX ?? Disclaimer: These are just random thoughts and are not meant to project the outcome of any given trading day, week, month, or year. So don't quote me on it. Cuz I dunno.

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