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Strategies & Market Trends : Trend Setters and Range Riders -- Ignore unavailable to you. Want to Upgrade?

To: Susan G who wrote (22657)	8/18/2002 6:52:35 PM
From: Susan G	Read Replies (4) \| Respond to of 26752

Updated channel charts You can all see where the battle will be on the indexes this week - at the daily 50 EMA. Unbroken since May, and on some there has not been a close over since March. Any break over will cause short covering for sure, and any failure to break over and hold will be a victory for the bears, who will sell the hell out of the failure. The important support to watch on all indexes is the 20 EMAs that were broken out over last week. Those have to hold, or last week's breakout over them fails.... COMPX mywebpages.comcast.net NDX mywebpages.comcast.net SPX mywebpages.comcast.net DOW mywebpages.comcast.net BTK mywebpages.comcast.net SOX mywebpages.comcast.net There are wedges everywhere out there, not only on dailies, but very clear ones on all indexes on the 60 minute charts. All with declining volume, which is a requirement of a bearish rising wedge. There's a very good chance they may crack this week. I am going on vacation for the next two or three weeks, so good luck everyone! Just could not resist when I heard my cousin's house on Block Island was empty for the next three weeks so I'm outta here <g> No internet, only a few tv channels, and the newspapers arrive by morning ferry. Will be nice not to watch for awhile : )