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> Hi all Spoo RTers!
>
> Thought this .gif file might be of interest. If the pattern holds and is
> worth anything, then it may be of some value for tomorrow.
>
> For everyone else - newbies in particular - it is a good example
> of a 1,2,3
> and how support, once broken, becomes resistance.
>
Bill, if you extend the chart back to include the end of last
year, you will see a couple of similar chart patterns in the
Dec97/Jan98 time frame that could be interpreted as 1,2,3's.
Obviously a decline did not follow these "tops" and the market
rallied to all time highs.
So what's my point? It would be great if it was that easy and
we could find one or two simple chart formations that would make
trading as easy as 1,2,3... But you just never know and this may well
be yet another buying opportunity.
Tom T
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