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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives
SPY 677.60-1.3%4:00 PM EST

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To: GROUND ZERO™ who wrote (28841)2/1/2012 3:38:04 PM
From: Joseph Silent  Read Replies (2) of 222953
 
GZ and gang ..... I can use some sharp trader-eyes feedback from you folk.

The following figure is very simple, but very carefully measured. The topmost down-sloping black line is the next target. No art or waves or cycles or magic here. Just simple, experimental work.

I expected the orange line to be resistance, but it is support.

My question: do you folks see visible structure? Are the black downslopes showing bounce and resistance points? Are the green lines suggesting a price corridor? Or is all of this only my imagination?

Feedback/thoughts will be appreciated. Thanks much. /J

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