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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: Chip McVickar who wrote (2290)	12/26/2001 12:36:14 PM
From: John Pitera	Read Replies (1) of 12411

Hi Chip, I hope you've been having a really great holiday season. I'm sure you've been out playing in the snow -g- to go back a few steps, I'm not sure that you can get reliable time turning points with speed resistance lines. They can be helpful in possibly finding some support and resistance areas. I had one friend who was watching stocks in the bull market of the 1995, he keep noticing how stocks would rise up through speed resistance lines and he kept seeing that when a stock had had a pullback and made it back up above it's 3rd speed resistance line, it then "took off" in his words. It helps to remember that many tools work a certain way in a bull market and a different way in a bear market. Technical tools that worked one way in the 1985 bull market, can work differently in the 1999 bull market. John

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