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I assume that the "one" is the one which swings up and out of the ballpark. I
believe we are seeing evidence of significant power underlying the S&P and
Nasdaq ... just look at the fast, long and powerful swing both had prior to
today's retracement, Nasdaq especially. The Nasdaq's strength in the face of
breadth non-confirms is suggesting that we may see some broadening of the
market. If you remember the monthly semi-log retracement charts (1921-32 and
70-date) I posted here a short time ago, this latest correction is not even big
enough to annotate - about 3% on monthly closing basis. I'm no raging bull, nor
do I think this mania is healthy, but I can not ignore what I'm seeing ... will
ride it whichever way it goes.
BTW I'm one of those who had DL'd Swing Machine (thank you!) but I haven't had
time to unzip and install it.
Earl
-----Original Message-----
From: Clyde Lee <clydelee@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, June 25, 1998 3:25 PM
Subject: MKT - DJIA (5 day reversals)
>The attached picture details 4 possibilities for
>longer term reversal swings.
>
>One of which, if it occurs will to my way of
>thinking make me very, very, cautious after
>it occurs.
>
>
>--
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>Clyde Lee Chairman/CEO (Home of SwingMachine)
>SYTECH Corporation email: <clydelee@xxxxxxx>
>7910 Westglen, Suite 105 Work: (713) 783-9540
>Houston, TX 77063 Fax: (713) 783-1092
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