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Strategies & Market Trends : TA- Advanced GET
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To: Richard Estes who wrote (21)10/20/1996 8:22:00 AM
From: Chandler H. Everett   of 1551
 
Richard........I put up the Super Scan this morning and found out
something you may have already discovered, but is worth checking
out. When I brought up the charts of the results of the scan, and
then clicked on the MOB, I found that many stock prices were either at or close to the MOB predictive levels. HOWEVER, in cases where the stocks that I looked at had ALREADY REACHED AND SURPASSED the MOB (calculated/clicked off the Elliott Wave 3 pivot high as indicated by the GET program), prices had INDEED either bounced down off the bars or congested there, but in each case had then gone on to surpass the bars, AND(!!) the MOB bar levels then became the SUPPORT level for the stocks. For momentum people, the MOB may therefore act as a support level after prices have gone through them in a Wave 5. See what you think. BW Chan
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