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Strategies & Market Trends : Waiting for the big Kahuna
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To: Berney who wrote (47708)6/1/2000 12:39:00 AM
From: Death Sphincter  Read Replies (2) of 94695
 
Berney....I, too, honor trendlines as well as levels of support/resistance. They are of utmost importance. If during a correctional faze I see a trendline coinciding with a support level AND as we get there it appears to be a nice clean ending 5th wave formation I am going to go with the high percentage bet and look for a reversal at that point.
Trendlines DO get breached....if I see a count that suggests a reversal and other TA/indicators look strong in the direction of the reversal as it occurs I MAY play the trendline break.
If you are talking descending trendline in NAZ right now
along the May highs, then I think that has a good chance for a break as NAZ attempts the 3700 area.

You say it only shows the past.
I have already given you and Gary my opinion on the future from an EWave look. SP to test 1300-1325 and then go up to 1625 area.....there were conditions set with that look, we are not down there yet, who knows? we MAY NOT get there, I think we will and if we do then I will look for certain conditions to be met. Its not going to happen on the open tomorrow, I don't think. maybe Friday......not

give it time and lets see what happens

Stains

ps....I think CyclePro's count is poor wave analysis
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