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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (25941)	2/9/2003 12:03:14 PM
From: J.B.C.	Read Replies (1) \| Respond to of 57110

Good Chart Thanks. Do you think that we'd bounce all the way to the upper boundary? Jim

To: Jorj X Mckie who wrote (25941)	2/10/2003 1:17:05 AM
From: bramble88	Read Replies (1) \| Respond to of 57110

Jorj- thanks for the charts; a quick glance suggests to me that bearish engulfing candles HAVE been an accurate predictor lately. Friday was the fourth such candle since the most recent top on the NAZ, beginning with one marking the very top; each was so far followed by more selling. Because of this and the position of the descending support through the December lows (broken red on your chart), I agree that some more selling can be expected before an oversold bounce. If not through Tuesday, then at least a steep intraday sell-off on Monday. Looks like the support line you drew runs right through 1260 here; that is also the approximate level of various longer-time supports. I'll be looking for signs of a bounce at that level.