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All,
As you all are aware, I tried to post a chart of the S&P to the list today
without success. I apologize for the inconvenience but will share my
observations with you anyway.
Now, I'm not one to go about looking at chart formations but this one just
appears too obvious! Last night I was reading the latest issue of TASC and
playing with Martin Pring's KST. I kept getting a BUY signal for the S&P and
wasn't sure why. Then I started looking at chart patterns and it came to me!
Just like John Murphy described in his technical analysis book on pg. 144.
An ascending triangle! The breakout point occurs at about 1415 and the move
should be good for at least 85 points. Meaning a move to 1500! Okay, lets
see if anyone else agrees with this observation. Comments welcomed!
J.
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