To: Nemer who wrote (27041 ) 7/7/1999 10:50:00 PM From: Chip McVickar Respond to of 44573
Nemer, This conversation went on for about 2 days.....June 5th-7th. It also crossed over onto the MDA thread around the same time. The "Lindahl Wiggle" To: Chip McVickar (24792 ) From: GROUND ZERO Saturday, Jun 5 1999 7:35AM ET Reply # of 27053 Chip, As you had requested, here's why I'm especially bullish on the NAZ: There is an uncommon three day chart pattern that is very reliable when it occurs. It occurs so infrequently that when I see it setting up, I take a trade in the opposite direction on the third day because it's unlikely that the pattern will ever complete itself. Even more rare is the five day version of that pattern, and then extremely rare is the seven day pattern... the very pattern we now have in the NAZ..... The three day pattern begins with a reversal day of a new low for the move and closing above the day's opening and at or near the highs for that day. The second day has a higher high and higher low and closes lower. The third day take out the low of the second day and then closes above the opening of the third day and above the high of the first day. If the third day doesn't complete the pattern, the pattern could be in place on the fifth day, if not, then the seventh day as we have here in the NAZ. Also, the Monday holiday produced a time gap, as opposed to a price gap, and time gaps are warning signs for market turning points. Review as many charts as you can find and you'll discover that this pattern is rare and when it occurs you have a significant turning point... the reverse is also true for topping patterns..... here, we have a seven day pattern in the midst of a time gap..... GZ