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Technology Stocks : INTEL TRADER
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To: John Harton who wrote (9348)3/26/2001 8:53:40 AM
From: Gersh Avery   of 11051
 
Hi John

"I notice that your black fork mid tine and red fork upper tine appear headed for convergence. Do you ascribe greater credence to the effectiveness of those trend points when they occur??"

No, I do not. Usually one or the other will fail before the convergence. That says a lot about the direction of the market.

In this case, however, both are descending forks .. I keep looking at the chart to find a ascending fork that would be in play now and just don't see one.

If, at this time, we were to run up to the black mid tine then drop back to the lower red, that would form a very nice ascending fork.
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