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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Patrick Slevin who wrote (7779)	11/4/1998 1:41:00 PM
From: GROUND ZERO™	Read Replies (1) of 44573

Pat, A genuine turning point is characterized by the market bouncing hard off that line once the market touches that price. If the market bounces off but returns within a day or two, or if prices just hang around the center tine, then you can expect the market to resume the trend in the original direction. In your example of the SP rising above 1120, heck it could rise above 1200, and probably will. But, if you're saying that 1120 is at a tine and prices crossed above it and returns to it and hangs around it, then prices will resume higher. If it trades there and then sells off, a good probability of a sharp sell off. The tines represent pivot points in price and time. GZ

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