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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (5795)6/26/2001 9:29:09 AM
From: JRI  Read Replies (1) of 209892
 
Yeah, I know....I'm going a bit renegade here with throwing out all sorts of counts.....we should get more clarity real soon...

Interestingly, Velo's stochastics (at the close yesterday) had us extremely overbought on the 15-minute (suggesting an immediate dump at today's open)....and yet, the hourly is mid-range and rising, and daily rising from fairly low levels...so there is some support there for this thing to turn after an hour (or less) or so....not saying it will, just not all stochastics pointed for the down case for today...

The clearest, though, is the 15 minute...it had no place to go but down...and looking at past history....that down pressure should last an hour at a minimum, and more likely closer to 2 hours..
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