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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: TREND1 who wrote (7837)11/25/2001 3:32:01 PM
From: Math Junkie  Read Replies (1) | Respond to of 99280
 
Re: "Translation: It is going down unless it goes up."

Sounds like you have captured the essence of technical analysis! <g>

Seriously though, it seems to me that resistance levels are just that: resistance, not brick walls. Saying that there is likely to be strong overhead supply at a particular price level is not a guarantee, but it seems to me that it would still be useful to know that if the market breaks through a resistance level, it is likely to keep on going to the next identified resistance level, if such observations can be shown to be statistically significant.



To: TREND1 who wrote (7837)11/25/2001 3:34:43 PM
From: Rich1  Read Replies (2) | Respond to of 99280
 
Larry sooner or later we need to take out 1940 if we are going higher...
I think Zeev might be right if we do go down to 1840..Thats an if IMHO..
Also an IF is how high we boucne from there I thinkwe could bounce all the way to say 1890 or so..
If we then take out 1840 then I will sell but I am like you I am just waiting for a sign from the Market...<gg>


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