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S&P 500
5,626.02
(
0.54%
)
US TECH 100
18,986.40
(
0.30%
)
Dow Jones
41,393.78
(
0.72%
)
Brent Oil
71.83
(
0.00%
)
Bitcoin
59,988.15
(
-0.98%
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plexxus

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plexxus

Re: ajtj99 post# 78246

Wednesday, 05/17/2006 5:03:47 PM

Wednesday, May 17, 2006 5:03:47 PM

Post# of 148479
>>>Plexxus, that "channel lower line lies at 1278 SPX if you connect the 1245 and 1253 lows. It's a parallel line to the upper line on that SPX chart.>>>

AJ I disagree with your take...the SPX wedge had 5 reversals between those trendlines shown below making them significant. Also note that as I mentioned yesterday the high was the backtest of that key trendline and we fell sharply today. There was no indication of 1278 being anything significant today as it was cut through rapidly. All JMO.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p63873966240&a=5...




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