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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Tom Trader who wrote (11660)1/4/1999 2:58:00 PM
From: Chip McVickar  Read Replies (1) of 44573
 
Hello Tom,

For those interested in forks
There have been 2 major forks today
The SPX just broke through the lower tine of a fork #2 at 1235/6spx
and has bounced near the lower tine of a fork #1 at 1232

This could be the last base for todays market spx
Time projection for the Fork #1...calls for a move at about 3:10-15

Fork #1 is off the open high of 12/31
Fork #2 is off the afternoon high 12/31
They both use the spread from opening to the early morning high of 1/4
And both have been fairly stronge all day except for the initial open
which was another series of forks.

Although I made a good call at the open...I've missed the obvious short
off the upper tine 1248...that was a sold bounce to short atleast at
noon and 1245
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