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It's probably useful to revisit this view of the cash S&P with the AP
across 30 minute bars. The blue elipse in the middle of the fork is
where we left off the last time we looked at it. Now the upper tine has
formed resistance and has closed inside this apparent line of
resistance. If this picture is correct, the overall direction of the
market is represented as bearish with the turn originating from the
point B in the figure -- the central top of an apparent triple top.
Triple regards to all,
Ned Markson
cnedgo@xxxxxxxxx
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