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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 68.01+7.4%4:00 PM EST
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To: zentrader who wrote (43816)9/5/2009 3:52:46 PM
From: MoneyFriend_2.0  Read Replies (1) of 208329
 
Now if you look at the entire distribution since March 6th.

You see the POC is still down at 910, and we have a fair amount of singles to 950. 980 is significant to me because for one that is pretty much the value area low for the last 20 days, and secondly because it is the cumulative avg support since the 7/13 leg up. Unless we are clearly back above 1022 next week, I'm not ruling out a break of 980 as it is very vulnerable.

Here's the distribution since the March low, truncated to show the relevant area. Blue line is 980.

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