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Strategies & Market Trends : Tech Stock Options
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To: The Perfect Hedge who wrote (41808)4/29/1998 11:35:00 AM
From: donald sew  Read Replies (2) of 58727
 
INDEX UPDATE
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Just checked short-term charts (5min/ 15min/30min), and it appears that we are triangulating. The approximate apex of these triangles are:

SPX = 1087
DOW = 8905

After the apex is formed, a surge in either direction should occur. In many cases the direction and size of the surge is motivated by news/fundamental matters.

Since my short-term technicals are in the oversold range the surge should be to the upside, but if news/fundamentals changes to the negative the surge will be down.

Seeya
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