TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... Message Board

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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....

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To: TATRADER who wrote (11782)	11/5/1999 8:58:00 PM
From: JACK R. SMITH JR.	Read Replies (1) of 59879

TRADER, We need to look at my weekly S&P 500 chart to see the shoulder building formation, and I need to be specific about which time frame when I talk here. Go to a continuous or a weekly chart and you will see the formation. The July high serves as the head and the April high as the left shoulder. This formation may take some weeks to be completed, and you cannot adequately view it on the daily charts. My daily charts indicate that we will top in the 1400 -1420 area, or we will have a new ball game. I see some strong support in the 1320-25 area after that. Speaking of pessimism--Me also, but do not trade an attitude in this market, just trade the charts!! You know the drill better that I-- Best regards to a great trader with a (perhaps better trader wife?) Said with "tongue-in-cheek", but we will see! Jack

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