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Strategies & Market Trends : Classic TA Workplace

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To: Perspective who wrote (148077)	8/14/2007 5:46:06 PM
From: skinowski	Read Replies (1) of 209892

still part of the corrective structure off the 8/6 low. Could well be, and we would be heading for a test of the 8/8 top - maybe into the supra-1500 SPX levels. But it could also be a developing setup for a continuous decline - like a series of 1's and 2's. We all sense that the market is due for a rally - but if the decline is for real, the surprises are likely to be to the downside. At the moment there does not seem to be a clear edge for a trade - I don't think I will be either a buyer or a seller of a gap either up - or down. I do have longer term short exposure, and for a long trade I'd want to see a good setup, and that will not happen at the open.

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