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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.47

+0.6%

Nov 28 4:00 PM EST

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To: Gary105 who wrote (14958)	12/13/1997 10:41:00 AM
From: Judy	Read Replies (1) of 68397

Gary, I am a firm believer under specific market sentiment and fundamental conditions significant downside gaps will be filled, the most recent gaps filling first and subsequent gaps if sentiment and fundamentals continue to deteriorate. That is not to say that stocks will not retrace up before resuming their slide. MU is filling the gap of Sep' 96, NN the gap of May '97 with a potential visit to the gap of Aug '96. INTC is now filling the gap of July '97 (mid 60s/low 70s) which should present strong support, but the gap of Sep '96 is possible. The same applies to the other tech bellweathers on your list. btw, just did a cursory review of a dozen stock charts and their recent price-volume action. My sense is that we are entering a tech bear market which will drag down the overall market.

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