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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Fri Oct 29, 2004 5:34 pm Post subject: Possible SPX Inverse Head & Shoulders |
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SPX may be creating a bullish inverse head & shoulders pattern. If SPX can break the downtrend line (neckline), then I'd expect a powerful rally. The right shoulder is higher, than the left shoulder, and the 50 day MA is rising, which may indicate a year end rally. Also, the 50 day MA may soon cross the 200 day MA.
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