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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (16048)	5/18/2001 9:43:31 AM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

What if the Naz does not print a new recovery high and the Dow does? Furthermore, what time frame do you give to this "test". Last we failed making a new high above 2215 since May 7th (only yesterday we breached this to 2216 or so), were making new daily lows until the beginning of this week, so we would have missed the last two days rally, and only yesterday, at the top for that matter called a new uptrend. I am not sure this test is any better than any combination of many other indicators. It can be useful in determining if a given trend is (short term) intact, but surely cannot be used for reversals. Zeev