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Daily and Weekly chart.
64 frame mm chart with pitchforks.
Ndx resistance is building (and
also making lower highs) day by day; week
by
week.
Haven't had a weekly close below
968-972 yet.. but still haven't
been able to overcome mounting
overhead
resistance.
The path of least resistance is
downward.
we're closer to last years low than
we are to last years high (g).
I think odds are that october lows
will be tested going
forward; and the very real
possibility to break below those lows.
Least likely scenario I see is
breaking
above the December, especially
January highs in the near
future. Anything is possible
however,
and that occurance would in a strong
way let me know something is
wrong with my analysis.
Intermediate cycle high is in; working
towards the intermediate cycle low.
Those lintermediate
cycle lows have had a tendency
to "extend" in time and price
since the bear market started.
Note the importance of 1500
area last year... after
we had made the cycle
high in december; retest
lower high in January <FONT
face=Arial size=2> and compare
to 1000 this year after
we made the 1155 high and
lower retest high in January.
Best,
Rhonda
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