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

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To: GROUND ZERO™ who wrote (31270)	8/24/1999 12:12:00 AM
From: Chip McVickar	Read Replies (1) of 44573

GZ, Outside Monthly Reversal This linked chart of the INDU clearly shows a Monthly reversal in place.... Will it be an Upside or Downside reversal on August 31st? iqc.com Notes: Arguments can be made placing the origin of this Bull Market in August 1982 which was an Outside Monthly Reversal to the Upside....off an 8 month basing pattern. Since then there's been about 20 Outside Monthly Reversals. Nine to the Downside: ·3 extended 1/84-12m, 6/92-11m and 8/97-7m...before the old highs were retraced. ·2 downside reversals were flat ·4 were down with the next month Up...2 of these have never had their closes printed....11/91-2894 and 6/94-3624. Eleven are to the Upside: ·4 have not seen their close printed....8/82-769, 5/85-1315, 12/91-3168, 7/93-3539. ·5 were up or flat for some extended new highs? ·2 were up reversals, but the market went down in proceeding months....4/83-7m, 11/83-14m. So far this August favors an Upside close! Interesting! Chip

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