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When the locals intend to push the market, they generally clear the
stops and turn it quickly (e.g. back down through the blue line) -
inability to do so indicates there is not a firm opinion in the pit. If
the market does not break quickly from any break under the previous PL
at 96-15, one can expect an attempt to retest the PH.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 05, 2000 8:17 AM
Subject: Re: [RT] Re: Bonds (the setup?)
> The stops just above the descending blue line have been taken out
which
> may indicate that the locals are ready to run the market south - but
> only if the rally bars are reversed quickly. If the new high is
> (significantly) lower than the previous high at 96-29 , we can draw a
> new descending trendline which will complete the picture of a bearish
> wedge and setup for short entry. OOH, consolidation into the highs at
> 96-29 will indicate that a base is in place for a rally to retest
> Friday's high.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, June 05, 2000 7:43 AM
> Subject: [RT] Re: Bonds
>
>
> > Bull triangle has been broken leaving an unresolved bear flag. We
are
> > now working on a possible descending triangle to complement the bear
> > flag. I would like to see a break just above the downtrend line to
> clear
> > buy stops and provide an entry point with only a couple of ticks of
> > risk.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Monday, June 05, 2000 7:08 AM
> > Subject: [RT] Re: Bonds
> >
> >
> > > Have been watching the intraday chart (5/10 minute) since the open
> and
> > > it is displaying a most interesting combination of an ascending
> > triangle
> > > (bullish) and a bear flag (25% retracement). I suspect that the
bear
> > > flag will win, however the market will tell us in due course. In
any
> > > event, there should be a nice trade out: a day trade to long side
or
> a
> > > position trade to downside.
> > >
> > > Earl
> >
> >
>
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