Market Analysis for Apr 29th, 2005

The downslanted coil-type pattern carved out this week continues, as we approach the final two hours of trading for today. The demarcation lines have been drawn: 1140 on the low side juxtaposed against 1153 on the high side. Whichever side of the range is violated into the 20-40 minutes of trading likely will trigger follow-through in the direction of the breakout into Monday morning.

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