The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Doug R who wrote (38775)	3/13/2001 1:09:50 PM
From: Danfan	Read Replies (1) of 79481

Doug: Just a point of clarification. While the trendlines of the NDX clearly line up on 4/6/01 (plus or minus a day), and at roughly between 1615 and 1640, in the past they have rarely coincided. What HAS seemed to work (at least for the last three times I've done this....Dec7, Jan9 and Feb12, which was not more than a 1-2 day bounce) the date is more important in terms of timing a bounce, while the price while accurate in terms of the depth, can be hit much earlier. The conclusion here is that something will be happening on or about 4.6.01 which can cause a nice rebound, however the height of the rebound is always subject to question. Also, the better the trendline crosses, and the more convergences there are with construction lines, the better the rebound....and these lines are excellent. The other conclusion is that until then, any bounce from here will be limited on the upside...usually by a downtrend line, the 50dEMA and a Fib retracement ....at the moment, that is limited to about 2200+. We'll see. Danfan.

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