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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: bruce-l who wrote (32680)11/19/1999 2:30:00 AM
From: Doug R  Read Replies (4) of 79198
 
Bruce,

PAIR:

That recent ut line is definitely too steep an acceleration to be maintained so it is likely to be broken...you're correct. The first
acceleration off the initial uptrend intersects that Pegline during the first week of December There could be a slide down that Pegline until that intersection approaches. A more reasonable acceleration would start off the Pegline before that intersection is reached and would be well telegraphed by the short term technical profile as a knee on the 233,21,34 stochs is set up..

For the retest of that Pegline to occur at 14 5/8 (the value I get on my chart) it would have to get there tomorrow. That's unlikely but it could happen. I'd say we're looking at 14 3/16 in a couple weeks for heavy-duty re-entry but I'm taking the scale back in on each dip approach until then. I have one piece of re-entry under my belt already...just in case that 4,3,2 goes back over 80 without notice.

Good eye on the Pegline,
Doug R
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