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After hitting a micro peak this AM at 1214.75, the E-mini March S&P has been stair-stepping to the downside as it corrects last week's upmove in general, and Fri.'s surge from 1200 to 1213.25 in particular. The overall pattern off of Wed.'s low at 1183.50 remains intact and bullish. Now the only question is where this pullback will press the index ahead of renewed buying interest that thrusts the index to new highs? Right now, the optimal micro pullback zone is 1209-1206 prior to my expectations of a pivot upside reversal. At this juncture, a rally that hurdles and sustains above 1211 will confirm that the intraday corrective sequence is over. MJP 02/28/05 11:45 AM ET (1209.00)

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