Bobby,
Could you comment on the following? Appreciated.
stockcharts.com[w,a]dacayymy[d20000101,20010701][pb50!b200!c20!d20,2][vc60][iUd20!Ub14!Ll14!Le12,26,9!La12,26,9!Lh14,3]
Draw a line through the intraday lows at the end of 1/2000 and 5/2000,
another line through the intraday highs of 3/24 and 9/1.
They are nearly parallel. 4/14-17 low and 1/2-3 low came within a few points
of the support line and bounced about similar amount.
5/23 low and last Fri low both came to the line as retest after the bounces.
Could we bounce like 5/23? If so, does the chart imply a multi-month
bounce to about 3000 and a final drop to about 600 below current level?
Also, relative to 2/28, on 3/9 we have positive divergence in every one
of the shown indicators. Is 3/9 full moon? Any implications?
Thanks,
DJ |
