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Ben -
Your comments this morning were complementary to my thoughts. On 6/17
the SPX rose to a high of 1112.87 and turned back at an L1 resistance
line from the formation originating from the close on 10/27/97. The
actual value for this L1 resistance was 1112.82. The SPX pulled back to
close below an L2 resistance line. This appears to be an exhaustion
pattern for the close on 6/17.
Ned Markson
cnedgo@xxxxxxxxx
http://www.erols.com/cnedgo
Proffittak@xxxxxxx wrote:
>
> good morning
>
> as convincing as the rally was yesterday i am not impressed
> a: it did not bring McCullen above 0
> b: the improvmnt in new hi was not noticeable
> c: p/c is too optimistic
>
> the only good was volume
>
> sell short 1 mini @open
> ss 1 mini @1119.1
> buy to close@xxxx
> all bets are off if we mk a higher hi today
>
> happy trading
> Ben
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