Market Analysis for Feb 19th, 2004

Wedge Formation Building Upward Pressure
By Mike Paulenoff, MPTrader.com

Once again today the E-mini March S&P has traded in a contracting range that is inside of yesterday's range, which is inside of the range that occurred from last Wednesday, the 11th, to Friday. Last Wednesday, the high was 1158.75, and from Wednesday to Friday we went down to 1142. Then we went back up to 1158.75 again on Tuesday, and yesterday went down to 1148

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