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Strategies & Market Trends : Classic TA Workplace
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To: AllansAlias who wrote (2039)5/8/2001 2:56:50 PM
From: John Madarasz  Read Replies (1) of 209892
 
screw the waves,

from S.T.

...still bouncing off resistance on many indices. The only objective comment that can be made is that resistance must be taken out SOON...with a big bullish stick that SAYS bulls are buying and SHORTS are covering.....taking out resistance needs to be done with conviction and NOT with weak little sticks like we have been seeing of late. Weak little sticks at resistance for the past 14 months has meant that a profit taking session is near......so if these do not break up / out soon, the chances go up significantly that a profit taking session will be sooner than later....Again, just trying to stay objective here and tell you what NEEDS to happen at resistance areas and the risks associated with little bitty sticks at resistance.
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