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

To: Trumptown who wrote (45493)	4/1/2002 4:31:34 PM
From: LTK007	Read Replies (1) \| Respond to of 99280

actual stats no, that would be a great set of stats to see. Just go by what is the verbal rule that we hear, and that matches yours, after a double top the third attempt fails more than succeeds, and the other general rule " a three strikes and your out" (well out the vast majority of times, the exception are called "passed balls" and you get to first anyways:) (vbg)

To: Trumptown who wrote (45493)	4/1/2002 4:52:56 PM
From: LTK007	Read Replies (1) \| Respond to of 99280

well on reading again i have to say yes we do need to get back up statistics, because<< If however, there is enough strength to test resistance for a third time, the resistance likely fails more than it holds...anyone got any statistics on it??>> i have no idea now. Unless someone comes forth we stats i guess one would have start counting SPX double tops, and see how many fail to test the double top and see how many succeed when testing a third time. Ah, that's may be worth doing.Max

To: Trumptown who wrote (45493)	4/1/2002 5:35:43 PM
From: LTK007	Respond to of 99280

on scanning the chart of SPX all i can say now is there is huge resistance at 1200, so much so that a successful break of 1170/75 double top would only set-up for a bull move or a crash and burn. Successful breaks on a third try can be a blow-off point to a major sell-off or a true bull-move.(5/23/2001 it was a blow-off leading to a major sell-off).A break of a double top on 11/7/2001 led to our present double top. But the 1200/1210 level is where the major test will be IF we break 1175 area, the REAL test would be just ahead.Max