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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Arik T.G. who wrote (4756)	9/28/1998 9:29:00 AM
From: yard_man	of 44573

>>2. Fractalic comparison The pattern showing since the break of the OEX 520 (which IMO is the most important line) resembles the intraday pattern the market made on that day and the next after the break (8/28). After the first sharp drop on 8/27 that clearly broke the 520 support (the OEX closed 515.9, high 536.8, low 512.74), the market continued a bit lower on the next day, and started zig zagging with a slightly up bias. This continued for the most of the day (daily high 520.44), and broke down from the day's trading range in the last hour, and closed at 507.67, near the daily lows. On the next day it took the plunge. Streching the same chain of events over a larger scale shows the same pattern- the decisive break of the 520 support (8/27, 8/28 and 8/31), then an upward tilted zig zag move that so far produced a high of 516.64 (still under the broken 520).<< I noted this same pattern -- kind of a curiosity, but I have no clue what it means. Look forward to the rest of your post. Anything like it in '29? <g>

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