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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?

To: macavity who wrote (5632)	2/11/2001 9:24:45 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 8925

macavity, Thanks for the explanation. re trend, I keep things fairly simple - look on the weekly; are the swing highs and lows 'higher' (uptrend) or 'lower' (downtrend). Or are they within the range of the prior swing (range/consolidation). Tech is then still in a downtrend, although that would be invalidated if a higher swing low can happen on the weekly, and it would have to happen darn soon. Once the weekly trend is determined, then the daily can be evaluated. So if on the daily prices are in a consolidation pattern (have been), and the weekly trend is down, then the higher probability is that when the consolidation breaks (it did) it will move down. Now all the world awaits what's next - does it retest the major swing lows? Fail? Pass? Stay tuned, same Bat-Channel, same Bat-Station, and we'll probably see what the outcome is this week. Mike