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To: The Ox who wrote (2202)2/19/2014 10:11:53 AM
From: The Ox  Respond to of 2274
 
Let me add that another week or so of sideways action would also work off some of the excess, so a drop from here isn't really all that necessary but I would lean toward a minor drop being seen in the next couple of days.



To: The Ox who wrote (2202)2/19/2014 11:01:51 AM
From: Justinfo  Respond to of 2274
 
Agree with you. But this market has been acting different from the last 1737 low. Different as in, It is using reversal zones to bounce high past resistances. 1850 should be very interesting



To: The Ox who wrote (2202)2/20/2014 10:07:01 AM
From: The Ox  Read Replies (1) | Respond to of 2274
 
We've met my short term requirement for weakness. That is not to say we won't go further down, as the trend is now pointing down and the market has been following the trend "almost religiously".

That said, some sideways action for a week or 2 won't hurt anything and will get both bulls and bears frustrated, IMO.

No one should be surprised that the first attempt to bust into new highs was a failure. It often takes multiple retests.


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