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That sure looks like a head and shoulders that formed and went below the
neckline today on the Nazdaq, or is my imagination doing doubletime? Or has
this been posted and I am a little short on the uptake?
If it is a head and shoulders it is not a very good sign at this juncture.
The double top at the top spanning the second week through the fourth week
of March was bad enough, but here and now? My next Fib retracements go to a
2800 even on the futures. Very good support here. Head and shoulders would
forbode much worse. Classic would be a further sell off, then a rise back up
to the trendline, then, oh my, the shorts would be very happy again.
Hope I am seeing things!!! If not, I'll ride that down!
Would like a reality check from someone.
Thanks.
BrianG
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