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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Tom Trader who wrote (6051)	10/9/1998 3:20:00 PM
From: donald sew	Read Replies (3) of 44573

TOM, >>>>>>>> If we get over your stair-step levels, what does that mean in terms of the next level of resistance--and what it means for the prospects for a further decline?? <<<<<<<<<<< If we break the STAIRSTEP significantly (50 points), then we need to revert to the resistance lines, and the main target resistanace is around 8150. As long as we stay below 8150, then this downswing is still in effect. Keep in mind that if we do get to 8150 my short-term technicals on the DOW, SPX, OEX, XMI will be significantly overbought. I did call the top during the period of OCT 7-13, it could just be that the top may be slightly higher than I had expected, unless we break 8150 to the upside. So far my STAIRSTEP is still intact. Please keep in mind that we need to break it significantly by at least 50 points. If you recall yesterday we broke the STAIRSTEP(7500-7900) to the downside but by only 30 points. Seeya.

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