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

To: IHateSourCream who wrote (121289)	6/30/2005 2:29:50 AM
From: The Freep	Read Replies (1) \| Respond to of 209892

IHSC -- MRVL does look like a consolidation that's gonna break upwards. The timing is the question, I guess... as I've seen those slow descents go on for longer. Definite support near the 38.2 mark. I was looking at a bunch of semi charts in the 60 min time frame tonight to see if I could figure our what's what. Lots of them made new lows today, meaning one of a few things: today marked a B down, we get a C up tomorrow/Friday... then a huge shellacking OR today/early tomorrow marks the end of some flat with a very odd ending pattern on the 60 min charts OR we've seen all the bounce we're getting and we're gonna finish off this down move, whatever it might be. But the SMH, for one, held way above the lows. Could it be making a pattern of its own? It'd be more bullish.... I do agree MRVL is one of the strongest in the semi pack, regardless. It might be safer, though, to wait for either it or the SOX to make a clearer move upwards (though even that is no guarantee, of course, as the recent break of the SGP consolidation shows.). the late night longwinded freep