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Strategies & Market Trends : 123 Trends and Reversals -- Ignore unavailable to you. Want to Upgrade?

To: Ally who wrote (16)	1/30/2001 2:01:34 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 147

RIM: Excellent Ally! That's the kinda thrust that we look for on a 2B. A top starts somewhere... although its still too early to confirm that a change in trend is underway. 5 minute ADX is up to 41 now, unless a parabolic move down happens, it is probably that it will move up a little, drift sideways. Perhaps as high as 110 or even a little more. Hard to say. What would be nice to see is it move below 107.65 and stay below. Then the next target will be the low of the prior day at 105. If a couple of down bars on the daily can be had, more fun in store. Still, this is all counter trend trading at this point so keep those stops hanging around!