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- Style="padding-right: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> ----- Original Message ----- <DIV style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: <A title=t-bondtrader@xxxxxxxxxxxx href="mailto:t-bondtrader@xxxxxxxxxxxx">t-bondtrader To: <A title=realtraders@xxxxxxxxxxx href="mailto:realtraders@xxxxxxxxxxx">RT Sent: Friday, January 12, 2001 9:37 AM Subject: [RT] 3 Black Crows While still very early in the day, if you look at the chart from yesterday - but now turned into candlesticks - the bonds might just be forming a 3 Black Crows formation. This is a trend reversal pattern and since it is coming directly after the H&S pattern, would seem to indicate what we have seen and that lower prices are afoot. Although the S&P does, currently, lead the bonds, the fact that there is such a bearish picture on the bonds, should give impetus to there being a decent stock market rally. On the other hand, the bonds have reached what could be a strong bullish retracement, being .382 from the contract high. Thus, the market is looking very bearish, but depending on how the day ends, could equally end up with a bullish retracement. Much depends on whether we have witnessed the, rather than a, new contract high. The current, intraday formation, suggests that the intraday low may get taken out and we then have a 3 Identical Crows finish for the week, to leave a much weaker picture. Where all this stacks up on the EW front, I have no idea, but perhaps those that know will tell us. On the day trade front, we never got an Oops, nor a news reversal, but the bearish retracement from the PPI took the market to within a tick of the pivotal high at 102^30 and if this holds for a DB then it could get interesting. If it blows through... By the way, I have a large down gap on my chart from 8.45 to 8.50 central and I wonder if this is just bad data or did something happen? Because a gap like that is quite telling. Anyone know? Bill EykynTo unsubscribe from this group, send an email to:realtraders-unsubscribe@xxxxxxxxxxx
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