John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: Jorj X Mckie who wrote (5966)	4/16/2002 11:44:00 AM
From: John Pitera	Read Replies (1) of 33421

Hi Tom, the RUT chart you posted. Shows the very clear and substantial resistance at 515 on the P&F chart. In your experience, what type of price advance above 515 would you be looking for to say the chart had "broken above" the obvious resistance. This is a serious question, I have much firmer guidelines for Candle charts and bar charts, than I do for P&F charts. building on that question, and looking at that chart in a vacuum. (don't consider, the other index chart formations) how many X boxes up would you want to go long, and if you were short the RUT. What type of price action would make you cover? John (making you work today -vbg-)

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