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Earl
----- Original Message -----
From: "Kent Rollins" <kentr@xxxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, January 17, 2003 10:34 AM
Subject: Re: [RT] Market
> >If 954 is taken out, I believe it will be Katy bar the door
> >for a very fast move.
>
> You mean a fast move to 954, or a fast move past 954? If past 954, where
do
> you think it will go?
>
> Kent
>
>
> ----- Original Message -----
> From: "EarlA" <earl.a@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, January 17, 2003 7:44 AM
> Subject: Re: [RT] Market
>
>
> I am seeing cup and handle formations in nearly all of the major equity
> indexes. Then NASDAQ has already completed a higher high and this move up
> has been nicely confirmed by all 3 NASDAQ breadth models: issues,
high/low,
> and volume. The OEX actually managed to break out above the weekly bear
> market trendline before pulling back. The NYSE has been the weak link in
the
> rally with non-confirming On Balance Volume and modest divergences in the
> breadth models. Recently, the market has been handling bad news quite
well.
> Finally, all indexes were overbought on momentum indicators. External
> indicators have been a bit positive: SP COT commercials substantially
> lightened short positions last week (this week's should prove
illuminating),
> put/call remains constructive, and VIX has been moving back up.
>
> Had the markets attempted to breakout from recent levels, I would have
been
> aggressively shorting the breakout. I view this decline as constructive as
> long as it does not get out of hand. My current view is that the market
will
> move down into the Friday/Tuesday date confluence (closed Monday), then
> rally strongly into mid-February. This is an inversion to what I had
> expected, however one must follow the market's lead. I will be looking for
> good support and long entries in the SPX 900 range. If all falls into
place,
> it may be an unexpected piece of good news which tilts the market into a
> strong rally. If 954 is taken out, I believe it will be Katy bar the door
> for a very fast move.
>
> Earl
>
> ----- Original Message -----
> From: "ira" <mr.ira@xxxxxxxxxxxxx>
> To: "REAL TRADERS" <realtraders@xxxxxxxxxxxxxxx>
> Sent: Thursday, January 16, 2003 9:09 PM
> Subject: [RT] Market
>
>
> Looking at many of the charts, I don't know if I would want to be short
> going into tomorrow.
>
>
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>
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>
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>
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