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strong resistance at 144MA and reaction
line
but any pull back should be contained by the lower
Blue parallel @26-28
next target would be the intersection of the red
9-11- trendline
<BLOCKQUOTE
>
Subject: Re: [RT] The Market
environment
<BLOCKQUOTE
>
127% retracement did not hold ... the market appears to be going
parabolic and seasonals are kicking in to boot. My next set of SPX
targets are in 1060-75 area. I took my lumps last week and closed
out all of my shorts, also trimmed back on investment risk generally ...
equities, commodities, and foreign currencies all
extremely extended and bonds appear at intermediate term risk from
inflation. I am lightly trading long side of emini but will not carry
through closed globex markets. Currently sitting on largest cash position
I've had since March.
Earl
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