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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: ild who wrote (46263)	11/29/2005 5:17:38 PM
From: ild	Read Replies (1) \| Respond to of 110194

From Heinz: regarding PoG resilience, there seems to be a growing consensus that 500 will be a short or even medium term top, which makes me think the market probably won't stop there for long...instead it's probably gong to test the target bob hoye mentioned first (i.e., the 520's). this in turn would create an extremely powerful long term situation, as any close above 508 would violate the highest high since the 1980 blow-off top. in commodity markets there is one hard-and-fast rule that one must never ignore - whenever a market breaks resistance, the older the resistance level, the more technically significant the break. look e.g. what happened when oil broke 40 - a level that had held for almost 24 years, and even survived several tests.