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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (33934)	1/23/1998 1:41:00 PM
From: Esteban	Read Replies (1) of 58727

Lisa, Re: "the two classic zones for this reversal are at 11am and 1pm, corresponding with the periods just prior to and following lunch." this is one i dont understand 11 is in the reaction phase but 1 is still in the impulse phase... My take is that the 1:00 time referred to here is the beginning of 2a. It's after lunch. I would look for it to begin between 1 and 2:00. So in both cases, before and after lunch, you're in the reaction phases, 1a and 2a. A strong counter move here would indicate the trend is in trouble. Re: but if it is a new primary impulse....do we have a reaction phase? so that the third impulse turns into a reaction phase? That's sure looks like what happened yesterday. And if so, it calls into question that end of day up move yesterday as carrying over to the next day. Let's see where we stand today. 1. Strong down impulse 1a. Impulse continues then very weak reaction just before lunch. 2. Continuation of impulse. Impulse phases are in sync. My understanding is that this should preclude another down closing impulse phase. 2a. Current attempt to test 2 underway. Is this your take on today's action so far? Esteban

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