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Strategies & Market Trends : Zman Market Timing

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zman69

To: Kimston who wrote (246)	10/19/2013 8:34:55 PM
From: Kimston	2 Recommendations Read Replies (1) of 15903

There are ten separate sets of projections that point to 3380 - 3400 area basis Emini-NASDAQ 100 Futures (continuous contract). There is no certainty in market forecasting, but there is a pretty high probability of a significant reversal or even a major top if/when this confluence area is tested (it's only 40 points above the 10/18/13 close). Based on empirical evidence, the markets like symmetry and historically have had trend changes when multiple projections line up in a given area (in price or time). There is also quite a lot of overhead resistance in the 3380-3400 area from the trading range of the 2000 top. Pull-backs/chop should be considered part of a continuation higher until 3380 to 3400 area gets hit or the 10/9/13 low gets taken out. If the 10/9 low is breached, the market is most likely going much lower. Two weekly closes above 3450 would likely invalidate this 3380 - 3400 confluence. Kimston

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