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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (17443)	6/8/2001 5:00:50 PM
From: brightness00	Read Replies (1) \| Respond to of 30051

>I am quit surprised of the market resilience here, it did >not collapse in the last hour as I feared it might. May have something to do with $INDU forming an inverted head and shoulder on the 5-min chart. The short covering / market rescue on the DOW30 started at 2pm. Jim

To: Zeev Hed who wrote (17443)	6/8/2001 5:40:03 PM
From: ajtj99	Read Replies (1) \| Respond to of 30051

Zeev, I thought for sure after two visits to the sub 2210 range we'd punch through it again, but it just means that it happens Monday instead of today. I think we may bounce and stay above 2180 Monday, possibly bumping up against 2004 after hitting 2180. Tuesday and Wednesday should be down days, with a re-test of the 2050-2100 possibly happening Wednesday, IMO. I'm thinking we might not get to 2052 yet next week, instead bouncing near the 2078 level again. That could take us possibly back up to 2150-2180 level by expiration on Friday.