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Author: HCourtney Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2705  
Subject: S&P Wyckoff Date: 4/12/2002 2:56 PM
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http://photos.yahoo.com/bc/hcour/vwp?.dir=/My+Documents&.dnm=S%26P+Wyckoff+2.GIF&.src=ph&.view=t&.hires=t

Coming off the V SC in Sept:

12/5 BC, AR breaking the utl then to the 23% Retracement, ST/UT on lower vol also meeting res smack dab at the dt'ing 200d ema, reaction to bottom of range. Brief 4 day rally, res at converging dt'ing 20d, 50d, 100d ema's, then BI on a long bar closing on the low on strong vol, support at 38% R, followed by a series of BUI's and BI's, lower lows and lower highs.

This is also a mini-SC! 1/30 PS, 2/7 SC, then the AR to the bottom of the previous range and the 50d ema, then lower vol ST/Spring. 3/1 a JAC on a 2 long spreads closing on the highs, breaking thru the ema's.

3/11 another mini-BC, note the tight spreads right at the top, follwed by AR and lower vol ST (the bottom of this little range also parallel to the flat 200d ema), then a BI and lower vol BUI, followed by a drop 4/3 to the bottom of the longer range. Here price consolidates for 5 days, res right at the converging dt'ing 20d, 50d, 100d ema's. Note the whole second shorter-term BC is also a test of the 12/5 BC/ST, w/yesterday a BI of that longer range on a long spread closing on the low on strong vol, sitting right on the demand line of the st channel.

I would also note that all 3 BB's (not shown) are trending down, the lower band has opened and turned down, as price has for the last 7 bars been riding the "slippery-slope" down.

One would now expect some kind of BUI to occur, if price cannot rally significantly back into that range, watch for next support at those previous Feb lows/SC/38% R. We may also see some congestion here that mirrors that at the Feb SC.

Keep in mind that while we're still in the mouth of the great bear, and we've been going sideways here for a while, right now the retracement is quite shallow. Also, note the 12/5 BC breaks above a lt dtl (purple line) and the subsequent range holds well above it w/the 2/7 mini-SC range actually finding support there. Observe how price pivots around this lt dtl at the 12/5 BC & then again at the 2/7 SC.

Actually, speaking for moiself, I'd loooove to see an ST of the Sept low, making this whole thing a great big AR. Now that's buiding a cause, baby! Ha!

Harold
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