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Or, a narrow sideways channel, butting up against resistance. The question
is, are the longs or the shorts facing higher risk?
Michael
| I like it! Here's a gif of the Nasdaq from 8/21/96. The current market
looks
| virtually identical. The handle in that case persisted for about another
two
| weeks longer - and then the market took off for a huge run!
|
| rgds phil
|
|
| > Bullish view on (cash) SP which must be resolved by Monday. Green and
| > Red lines mark longer term resistance and support. Blue lines mark a
| > very bullish cup and handle in which the bottom of the handle has been
| > limited to the 38% retracement level. Handle will run out of room within
| > 2 trading days. AGet revised count is also very bullish. Not to mention
| > that Friday is both triple witching and full moon so this should be
| > resolved quickly.
| >
| > Earl
| >
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