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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: jjstingray who wrote (43196)	3/22/2002 2:47:49 PM
From: HairBall	Read Replies (1) \| Respond to of 99280

jjstingray: The price action needed to rise above the 1860 level to fill the 3/19-20 (gap-down). Other than that I give 1860 no additional significance. The "next" two things that need to happen for the 2/22 rally to stay alive: "First" the price action needs to break to the norm out of the falling wedge originating off the 3/11 pivot high with follow through that takes it above the upper boundary of the 3/19-20 (gap-down) and "second" followed by the obvious rise above the 3/11. A negation of the falling wedge would most likely signal that the 2/22 rally has stalled and maybe the Sept01 rally has completed, so caution is advised if that occurs. I would look for prices to continue to consolidate within the wedge (likely falling further) before mounting the move necessary to resolve the wedge to the norm, which would be up. Be careful an intraday dip below the support line could be a lure, just as yesterday's intraday pop above the resistance line, the boyz love misdirection moves. The intent is to move the market while keeping folks guessing and unsure. They'll let you know when they want everyone going long or short for that matter...<g> My intraday multiple time frame models are mixed. An interpretive read but hardly definitive (I prefer for them to line up) suggest to me the COMPX should continue on an intraday basis with a stalling consolidation (which is in progress) to offset the buying that was induced via the 3/21 pivot low and subsequent sharp rally, before heading higher. Regards, LG Disclaimer: The above is my opinion only and I reserve the right to be wrong. An overall market expectation is just that and should not be used in exclusion of the evaluation of individual equities or other investment instruments. Do not base any investment decision solely on any one person's views or analysis, especially an anonymous message board poster such as myself. Do your own research and take responsibility for your own investment decisions.