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

To: pressboxjr who wrote (19613)	7/2/2001 8:42:06 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 30051

JrEwing, yes, that is an important part of it, but I use a slightly lower number (in the gap) 2078, for two reasons, that was the support prior to the last breach down under 2000, and furthermore, we somehow always like o go into the gap (1973 which was the last low on the naz was in the middle of the mid April gap), eventually I expect both gap to be fully covered, one of the reasons that my "next box", once the current rally is "pent" is at 1850/2050, and the one after that (whic I still expect by late August, is a retest and actually a possible minor breach of the years low on the naz. Depending on ho we get to these two potential levels will determine the continuation of the scenario. Originally, I still had another drop under 1600 to 1400 in October, but right now that likelihood is low, and will depend on how we "meet the challenge" at 1850 and 1620 or so if we get there. Zeev