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

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To: Clay M who wrote (15810)	2/18/1999 9:21:00 AM
From: Chip McVickar	Read Replies (2) of 44573

Hello Clay, 1213-14spx is important L-tine off the 1/4 Pitchfork that has defined this market for weeks. If it breaks that I'd have to find the next dominate M-tine for any recovery....most are pointing shareply down. I will do that as the day progresses. This Area is Realy Big....break it cleanly and I expect a major sell-off if a recovery is not immediately evident on the day. With a bounce it's back up to 1245 again with a few pauses.... Good place to go long....if 1215 holds....I will be long. 1166± is Lower tine of GZ's Fork from Sept/Oct and is very stronge. I would expect a stronge tradeable position trade their if other forks cooperate. The DJIA has a similar pattern from these Sept lows, but its lower tine was broken early Feb at about 9280± and again yesterday. But there is a BIG trading Base here at 9100 that I'm sure everyone is watching. The next Major M-tine is at 8800± Clay look at these Bollinger bands and MACD for the Daily DJIA....don't see this very often on day charts....which way will it go? iqc.com Chip

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