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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Chris who wrote (13945)8/5/1998 10:43:00 AM
From: FJV  Read Replies (2) of 42787
 
Chris,

The bounce so far has been much weaker than I anticipated - max of about 9 points up on the SPX so far. I am keeping an eye on the 9 EMA on the 15 minute chart of the SPX. It is illustrating some strong ST resistance, as it did all afternoon yesterday prior to the big drop. I won't dabble on the long side, even on a very short term basis unless the SPX convincingly breaks through the 15 minute 9 EMA. It looks like the buy the dip crowd is not so confident - at least not yet.

Franco
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