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Strategies & Market Trends : Technical Analysis - Beginners

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To: SteelBlueIce who wrote (1451)	12/21/1996 7:46:00 AM
From: SteelBlueIce	of 12039

Monday looks like a weak day for the markets. The NAZ appears to be suffering more technical damage than the DOW but both had an awful showing on Friday. Then again, Mondays usually reverse what transpired on a Triple Witch Fri. Tuesday, Christmas Eve should be an up day as always, little volume and a rally, half day. Let's put our heads together and try to figure this out. Things to consider: The charts. Greenspans version of 'The Nightmare Before Christmas' spooks the charts and creates some technical turbulance which spawned... 'The Santa Claus Rally That Came a Little Bit Early This Year'. The NAZ rallied last year from 12/19/95 till 1/2/96 before correcting 8% in the following 2 weeks. Do we rally and correct earlier this year? *Where does all the 401k money go? Christmas bonuses? Virtually all of it will be put to work in the markets but I'm sure that these money managers look at the technicals too. Maybe they'll sit with some for a while? Now take all that and throw it out. The charts reflect all that already. With that said, the markets look weak and unless there is some real strength Thursday and Friday, it looks like we will have to test the recent lows again. Comments?

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