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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: TREND1 who wrote (7837)11/25/2001 3:32:01 PM
From: Math Junkie  Read Replies (1) of 99280
 
Re: "Translation: It is going down unless it goes up."

Sounds like you have captured the essence of technical analysis! <g>

Seriously though, it seems to me that resistance levels are just that: resistance, not brick walls. Saying that there is likely to be strong overhead supply at a particular price level is not a guarantee, but it seems to me that it would still be useful to know that if the market breaks through a resistance level, it is likely to keep on going to the next identified resistance level, if such observations can be shown to be statistically significant.
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