Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 687.86

-0.4%

Dec 29 4:00 PM EST

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To: Dr. Stoxx who wrote (2768)	1/24/1999 5:04:00 PM
From: Caroline	Read Replies (2) of 39683

TC, are you aware the chart setting is on "expanded"? Just so long as you are... AXP: timely.com The trend is clearly "undecided," but with more volatility than two other undecideds on which I'm currently long: C: timely.com CD: timely.com The interesting action in AXP is that it's not a coil, waiting to spring (CD & C) -- but potentially many other shapes. There's clear resistance at $110, but the price is only $98, so resistance isn't the issue. Sitting on support (200 day MA), an event such as TC describes could break AXP. I'm voting "I don't know" on this one, but it sure is an interesting chart. Best guess: an intraday downswing to $88 (late October support), with a push back toward $105-110 at the inevitable "Brazil? Who said that's a problem?" re-bull phase. Stochastic says mini-sell. CB

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