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RT Folks!
I have been posting charts about the overhead resistance and the coiling
action of the markets. Here are the charts updated through mid morning and
you can see how powerful the breakouts were from the coiling levels. Price
tested the upside resistance yeaterday and could not gain any ground above
those levels. The Nasdaq 100 futures showed their hand early yesterday...as
you can see, the power generated by the coiling action really propels a
market fast and furious once the breakout is clear. The S&Ps followed at
the opening of Globex yesterday afternoon and have never looked back.
Please note! These are March contract charts, so that I could show
continuity with the prior charts.
Best,
Tim Morge
www.medianline.com
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