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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (16616)1/27/1998 1:14:00 AM
From: J.T.  Read Replies (1) of 50167
 
IKE, I believe I know what you are getting at in light of "big picture". Excluding late Oct. and early Nov., for most part we have been "rangebound" btw 8282 High and 7600 Dow. I look at the years you post and it seems like we are "ready to take off into nirvana" again. I respectfully disagree. Lower highs since end of July. I am looking at baseline shelf of support since June 12 at 7580 area all the way to present. We now come to point of "critical mass" where this support WILL BE TESTED AGAIN, IMHO. If, and only a big IF, we break through this support "backing and filling" from massive 4 year run up and new lower support and resistance levels to emerge. Where this will take us remains. My immediate read is 7150- 7300 area. This is looking at market with only half of picture I know and I am very aware of IKe's "big picture". My question to you is: why can't we have a "further market adjustment"? It would be healthier for market in long run.. JT
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