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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Doug R who started this subject7/15/2002 6:21:58 PM
From: Doug R  Read Replies (1) of 79598
 
The DJIA essentially hit the ACT today.
The ACT, as most here will recall, is the uptrend line from 11/23/94 to 12/9/94.
The Dow's last visit to the area of the ACT in Sept '01 resulted in a 30% bounce which was a complete RR.
Another complete RR from here would again result in a 30% bounce. It's difficult to entertain the idea that this will happen but that's what IL/ACT/RR rules hold out as a distinct possibility.
As with individual stocks, if the Dow continues down and the ACT does not hold, expect the worst.

Doug R
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