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

To: Justa Werkenstiff who wrote (19971)	7/7/2001 9:42:06 PM
From: Justa Werkenstiff	Read Replies (2) \| Respond to of 30051

Here is one to keep in mind from Bloch as we got an over 2 reading on Friday : "Of potential major technical interest, the ARMS Index closed at 2.03. Please be apprised of the significance of two consecutive sessions in which this index closes at 2.00 or greater. Historically, this type of 'back-to-back' reading implies that a bottom of major importance is close at hand. It doesn't mean new highs, but it does strongly suggest a worthwhile tradable rally, commencing between 1-7 trading sessions later. The last time this scenario occurred was October 16 and 19, 1987. It might be painful if it happens; yet one can hope. The other possible bullish scenario is if the index closes at .50 or below today."