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Strategies & Market Trends : E-Mini Pit -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (486)2/11/2002 11:09:55 PM
From: hypostomus  Respond to of 11288
 
You have no doubt noticed that the indices are approaching their downtrend lines from underneath (except for the DOW, which penetrated its trend line today). With all the ma's still upside down I wouldn't count on this sucker rally lasting much longer. In any event, it will take a long time either to run the gauntlet of the resistance those ma's offer, or for the ma's to flatline, permitting a recovery. The long action was sweet today, but I'm not getting excited about enjoying much more of it.



To: the-phoenix who wrote (486)2/12/2002 2:35:35 PM
From: fut_trade  Read Replies (1) | Respond to of 11288
 
"But a consolidation day that should see a modest pullback off the current parabolic run"

After strong move up, I would be looking to buy on a pullback instead of looking to sell at resistance. Resistance is really difficult to define except in hindsight.


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