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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (25171)	6/11/1999 10:05:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 44573

Numbers were o.k. but bonds down again. I suspect that after the continuous decline a spike today and reversal tomorrow. Does the action so far qualify as a gap up for the island reversal? I see no technical basis to be medium term long on this market. The basic weakness was demonstrated during March- April when the S&P was struggling higher but with many overlaps. Then it broke its main uptrendline (5/24) and rallied back to touch it from below (6/7). It's gonna be very tough to argue that the market is still on an up trend. ATG