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Here is a second approach at price determination for the OEX for Monday that
looks backward one day. This backward looking approach and the previously
posted implied volatility approach have 545 as a likely target as R2 and R3
are sandwiched about 545. The resistance - support range is the narrowest in
many days and facilitates a mechanical breakout buying panic as the stops are
run at R1, R2, R3. If this happens then we may see the 555 extreme target
(crash up day) projected on the previously posted. MoCone chart.
Sincerely,
BobR
http://www.oextrader.com/momentum/momentum.htm
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