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To: pater tenebrarum who wrote (81208)	3/18/2001 5:15:28 AM
From: Michael Watkins	Read Replies (3) \| Respond to of 436258

SPX now, and then... I have taken some liberties with drawing the H&S just to avoid over complication of the matter. ottographs.com Seems to me that FOMC (before or after) is likely to be a catalyst for a move; in the event that the market rallies, surely the cuts earlier this year, and eventual market direction, will serve as a cautionary backdrop for market participants. 1 - Rally to resistance, and a clunk 2 - Rally to resistance and a believable move up 3 - Clunk right away In my mind there is really no way to game this market, at this juncture, except for day by day, so I don't bother trying. For now, its far better to sell a failed rally than it is to buy a failed decline. That picture will change eventually but its highly unlikely that it is changing now. (Preaching to the choir on this thread I know...)