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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (9388)	8/8/2001 2:31:20 PM
From: Jack of All Trades	Read Replies (1) \| Respond to of 209892

I know you are not an EMA guy but keep an eye on the 1min 20EMA we are sitting just below it, if we break above and hold I will SAR... Edit just repelled off looking like more down to come...

To: AllansAlias who wrote (9388)	8/9/2001 3:13:29 PM
From: At_The_Ask	Read Replies (1) \| Respond to of 209892

As support and resistance can rarely be called down to the point on a longer period chart the exact no.#s 600 and 2000 precisely are not important however the amount of turns that have have taken place around those areas are. Also it is obvious how often during up and down moves the naz tends to stick around 2k for a day or two before moving on. The psychological impact of the naz falling back into the teens for the fourth time in 50 days is also signifigant showing overall weakness despite some of the bullish corrections to the overall trend. So I was referring to the support levels around those areas which I feel is quite clear on a daily; not to absolute support at those levels. It is not always easy for me to couch my observations in e-wave terms as my expertise in them is limited at best. However I did find the Prechter and Frost book in Barnes and Noble over the weekend and have been studying it. Follwing the five wave up pattern would have earned me many more points over the years as I have a tendency to sell to early in bull runs. Happy trading all and dont forget to buy calls.