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

To: ajtj99 who wrote (16493)	5/23/2001 9:45:37 PM
From: ajtj99	Respond to of 30051

I still say the COMPX chart bears an eerie resemblence to last year's Nasdaq chart from May-August. Look at the chart, and this week's peak seems to coincide with last year's first top in July. The run down from July and the double top in August would be repeated if we go to 1850 and back up to challenge resistance at 2388. bigcharts.com That chart even had a huge gap up that was filled in the leg down, which we could also repeat because of that huge gap just below 2000. It appears that history may repeat itself, but it may be happening 2-months earlier than last year, hence Zeev's bottom in August. I guess we'll know for sure if this is being repeated if we don't hold resistance at 2095 and 2052. PS: The cycles have a low on May 29-30. I don't speak their language, so I misinterpreted it.