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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (81280)	8/8/2001 5:52:26 PM
From: eichler	Read Replies (1) \| Respond to of 99985

Max, Ay! So if we break previous support at the point of the last two bounces, approx 1934...then your expectation would be a decisive follow through to the downside. I appreciate your view and agree that it is certainly possible. It's not how I am anticipating the current down action but I will certainly keep in mind and watch how it plays out if we should crack that 1934 level. IMO, the 62% retracement of the 4/4 low to 5/22 high is a legitimate target and worthy of consideration as a target low. A move leaving no doubt of the violation of that level (bust through 1885 by calculation) would in my mind call for a retest of the April low though I am aware there is another significant level of 78% I believe... I would be interested if you would share how you flip the fib and what high and what low you then use to calculate your fibs. TIA, Eichler