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Strategies & Market Trends : Sharck Soup -- Ignore unavailable to you. Want to Upgrade?

To: velociraptor_ who wrote (12658)	3/21/2001 2:44:46 PM
From: Sharck	Read Replies (1) \| Respond to of 37746

FUTS pulling back here, gut says we sell off, what do the charts say V?

To: velociraptor_ who wrote (12658)	3/21/2001 2:48:39 PM
From: Rambi	Read Replies (1) \| Respond to of 37746

EDIT-ooops- hit submit too fast- Does that mean that there will be another pullback from this 1140 thing again? Or that we could correct up to 1180? (wondering about positioning for tomorrow or playing it again today?)

To: velociraptor_ who wrote (12658)	3/21/2001 8:27:39 PM
From: marc chatman	Respond to of 37746

I like your most recent suggestion that today's action into the late afternoon may have been entirely wave 2 -- at least when I look at several specifics. Check out the SOX, AMAT, CSCO, GLW, JDSU, JNPR, among others. All appear to have been making bearish pennants or continuation triangles. Possibly, in the last hour, they were breaking to the downside, along with the broader market, only lagging a bit. The only thing I don't like are the COMPX and the NDX, both of which still appear to be making bullish wedges if you look at the 15 minute charts. Of course, the SPX was making a similar bullish wedge until it broke hard to the downside at the end of the day. My guess is the COMPX and NDX are both likely to break down tomorrow, led by a break in the SOX. I've heard the book to bill is out tomorrow morning, so perhaps that will be the catalyst.