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Strategies & Market Trends : Harmonic Trading with The Phoenix -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (67)	11/18/2002 2:08:18 PM
From: cyanideinvestor	Read Replies (1) \| Respond to of 941

phoenix - you've got a great thread going on here....im with you seeing 890ish by tomorrow. but i'm not so sure if the pursuant rally will take us to 950range. that may be a little steep. shall see. happy trading

To: the-phoenix who wrote (67)	11/18/2002 4:16:02 PM
From: the-phoenix	Respond to of 941

Today's low on the SPX was pretty much right at the .786 retracement of the rally from noon on Friday to this morning's high. 888 on SPX is a reasonable target for tomorrow. It is the .618 retracement of last week's rally and also a 1.272 retrace of the rally from Friday noon to this morning's high. Should also give us a test of the lower tine of that pitchfork I am following. A countertrend move back into the 905-910 area first would not be unexpected. Holding short with a stop at 912. Targeting 888-890 to cover. Chart updates later this evening.