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Strategies & Market Trends : Classic TA Workplace

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To: Moominoid who wrote (123352)	8/26/2005 12:04:50 PM
From: The Freep	Read Replies (2) of 209892

David -- as the one who called IBM "on the precipice" I still have to say that it nees to 1) break the 50dma with force (right now it's on support and filling a wee gap) and 2) see a pickup in downside volume. After that, it'll look bearish. It doesn't look bullish today, I'll agree, but I still need to see downside momentum, not just a slow sliding of price to support. (EDIT: oops. I simply second what MC said!!!) I kinda view the market that way right now. Price isn't pleasing to the bulls... but there's not much urgency to the down, and a rally into the close today could give us great wedge overthrows and reversal sticks, too. Will it happen? NO idea... but that still gives the bulls some hope. the freep

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