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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Augustus Gloop who wrote (10883)	12/13/2008 1:16:28 AM
From: Stoctrash	Read Replies (1) of 33421

TA tool fun: NDX had a nice time and price point. Could end up being a sideways battle for the two forks in control.(green & light blue) Notice how nice that big Green Fork has held price since Nov Lows and the "magnetic" action of the center & lower tine. Upside should be contained by 1250 area. Much above that is fairly bullish. The bear case is a cycle back down to the lower tines. If that happens watch that 1060 area of the newer light blue fork. Given the trend, this is what I think may happen.

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