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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Step1 who wrote (7025)7/28/2000 10:17:23 PM
From: AllansAlias   of 436258
 
I received a couple of PM's about Nikkei targets. Going down I see these milestones under 16,000. They are +/- 50 as you'd expect.

15,900: Horizontal support and fibo. Draw a line from May/98 to May/99 for HS.

15,600 and rising: Support trendline from major low of Oct/98 thru low of Jan/99.

14500: Lot's o' stuff waiting there. A couple of old lows from '95 and '98 and highs from late '98 and early '99 tested this area.

14,500 and falling: Internal balance/trend line. This is one of those funky Schwager lines and it's a beaut. It goes all the way back to the high of 1987 and the entire move since has revolved around this line.

12,450 and falling: The abyss. We must never speak of what lies under this. Agreed? This is the bottom of the channel it's been surfing in since at least '91.

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Some stuff left out 'cause this was really turning into a TA-head post.

Better answers are available from smarter people.

Cheers --Allan
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