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Strategies & Market Trends : Classic TA Workplace

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To: Shack who wrote (132867)	5/18/2006 12:55:47 AM
From: Henry J Costanzo	Read Replies (1) of 209892

<<First things first, the daily SPX wedge off the Jan 3 swing low needs to resolve which would mean 1250 is a lock, that breakdown is clear.>> We've had several posts here of that "wedge off the Jan 3 low", Shack.but not sure I see that ..or buy it..... looks like a well-behaved channel to me.....which has now just broken down, of course... Not sure you've seen my speculations over the past week about "support"......I had 1275ish as the first support....the bottom of the channel I just mentioned.........That's gone, and my next would be 1240 ish...a little below your 1250..........Question pending here is whether we first get a bounce....and for how much/how long. A pleasure to chat with you, but now I'm going to repeat that oyassumenassai...and stick with it this time !!...LOL

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