Harmonic Trading with The Phoenix Message Board

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Strategies & Market Trends : Harmonic Trading with The Phoenix

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To: the-phoenix who started this subject	4/3/2003 9:52:29 PM
From: the-phoenix	Read Replies (1) of 941

We are getting some structure now that could resolve as either a Bullish Pattern: share.esignal.com or as a Bearish Pattern: share.esignal.com Both patterns are the same on any continued pullback off today's highs into the 850-860 area. Below that, and 810 looks likely. However a bounce higher from there suggests a move to at least 910. So I am very interested in this pullback to see if it can fill yesterday's opening gap, and if so, how it acts after that. I think buying that gap fill with a stop/SAR under 845 is a very good risk/reward setup. Will the market give us such an opportunity? Lately the huge opening gaps have not been allowing short-term traders to participate in the bulk of the moves. Consider that anyone who bought the SPX after the first 30 minutes yesterday would be at breakeven or even slightly underwater at today's close.

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