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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Square_Dealings who wrote (37484)6/26/2002 7:40:09 PM
From: Vitas  Read Replies (3) | Respond to of 52237
 
the crash of 1929 began with prices at an all time high

the 1987 crash began with prices at an all time high

the 1989 crash began with prices at an all time high

the 1997 crash began with prices at an all time high

hmmm, i see a pattern here

you might be able to sell continued erosion

maybe

crash?



To: Square_Dealings who wrote (37484)6/26/2002 10:57:32 PM
From: Mike Learner  Respond to of 52237
 
This is what I have learned: Usually, when a support level is broken, the price action goes sharply down and then it bounces back quickly to stay above that broken level, however, in most of the cases, it fails since the previous support level becomes a major resistance level.

And, once the price action shows its inability to move over that resistance level, the big downward slid starts.

Tomorrow will be interesting!

Mike


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