SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: ChrisJP who wrote (36608)8/23/2000 9:08:27 AM
From: Magnatizer  Read Replies (1) of 79326
 
Chris

Let me expand on the 1480 necessity to hold. If it does fail (2 days trading below with no test of it) that implies 1420 neutral zone to be seen. If we return to the 1420 neutral zone without a test of 1539 overhead mag then the bears are going to feel very strong and the downside momentum will likely cruise right through 1420. At this point the buy the dip crowd looks at the chart and says "Oh sh&^" 1420 area did not hold for a double bottom... Wa la.. 1300 here we come.

Of course, it will take 1480 break to get the ball rolling.

BTW, good call on the FOMC reaction. I really thought the young guns would be overjoyed with no cut.

ht
Mag
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News