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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Paul Shread who wrote (48047)	7/29/2002 7:35:12 PM
From: Doo	Respond to of 209892

There's really no firm reversal (I like 4 reversals to complete the pattern) to establish the SPX rising wedge, and you can keep moving that top line up for quite some distance on any reversal we ultimately do have in the formation. At that point, it will be a wedge, a channel or nothing at all. I thought the first draw I made (which is your top line) would hold and the reversal would come, but it didn't. I wouldn't be committed to the "damage" scenario, just yet. Let's see where a true reversal occurs and then look at the pattern again. Same on the indu. That's the way I track an evolving pattern.