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

To: At_The_Ask who wrote (63500)	1/11/2003 3:35:23 PM
From: skinowski	Read Replies (2) \| Respond to of 209892

To me, the SPX area at 932-33 looks very interesting… On the 15-30min chart it has the potential to be a reverse Head and Shoulders (cup and handle?). A pullback, and then a move up would make it into an Ascending Triangle (with an implication that the rally out of Dec. 31 is likely to turn out an A-B-C, with the triangle being the ‘B’). There are other ways it can play out (ex. double top), but the bottom line is, if we go above 933 I’d rather not be short this baby until things clear… Having said that, COMPX is relatively stronger, and actually might be working on an ED, which may be a brother leg for the run out of Dec. 31.