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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: Crimson Ghost who wrote (28879)2/8/2002 11:13:21 PM
From: ajtj99  Read Replies (2) of 99280
 
George, if we do get a re-test of the lows that does not breach the lows, that could set up the possibility of a drop to breach the lows later on.

I believe in December Zeev considered 1646 to be a level that could serve as a test of the lows. I've read other parameters that show a need to come within either 5 or 7 percent of the lows in order for a valid re-test.

Whatever happens, I believe the next drive down will bring us to our low. It could end up playing out similar to last Spring, with a low in the 1600's, a huge rally above 2000, and a steady drop all summer long to a breach of the Sept. lows in the fall.
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