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Strategies & Market Trends : Drillbits & Bottlerockets

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To: Jorj X Mckie who wrote (9608)	5/2/2001 3:51:11 PM
From: Doppler	Read Replies (2) of 15481

Speaking of BRLs. An interesting point is that using a different box size of course produces different BRLs. They usually approximate various trend lines on a regular chart (ie maybe a short few week trend or a longer several month trend). Anyway, I bring this up because in this case there is a fairly significant difference between the reg charts and PnF. On a regular chart the down trend line (ie BRL) is about 2250-2300. The Dec lows and the early March highs also come in right here. Combine that with the very overbought nature of the market and I think we stop right here. Right now. Or soon enough anyway. Any break of 2300 however will turn me very bulllish until the FINAL downtrend line from the 5200 highs to the summer 4k+ highs which comes in just north of 3k right now and is falling each week. JMVHO

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