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To: NOW who wrote (52124)9/1/2002 3:40:42 AM
From: augieboo  Respond to of 209892
 
tooearly, I think a better interpretation would be to say that the DOW broke out of an ascending triangle, only to see that breakout fail. The topline of the former ascending triangle is now overhead resistance.

stockcharts.com[e,a]daclynay[dd][p][J5395667,Y]

JMHO.

augieboo



To: NOW who wrote (52124)9/1/2002 6:01:31 AM
From: AllansAlias  Respond to of 209892
 
I do see that it has fallen out of what looks like a bearish formation. What I do not see yet, is that it wants to continue falling. It's at the point where it could still pop rather hard. Financials haven't broken down yet. Why is it still in an up-channel? Take the line that held the highs and project it across the low we hit on Friday.


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