Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (6021)	8/30/2002 11:41:54 AM
From: ajtj99	Read Replies (2) \| Respond to of 30712

Justa, I looked at that this AM, but I couldn't figure out the neckline. You've clarified it for me. It appears the neckline mid-point is around COMP 1280, which measures 146 to the 1426 top. An expected break of the neckline around COMP 1320 would get us a target of 1174, which is a bit below the 1192 low. When I was looking at this earlier, I kept thinking of how this seems to fit quite well with the re-trace (breach of the neckline to 1264, rise up to the rising neckline around 1335, and drop to re-test the lows around 1200). That said, we need to see how today plays out. The Dow is performing as expected. We just need to watch the COMP here to see if it gets above 1355 or so. The A=C target is 1375 COMP and 992 NDX. .618 of A = 1350 COMP and 974 NDX. Dow is performing as expected today. Nice and predictable. Too bad it hit the low so quick this AM I didn't have a chance to trade it (I was looking for a hit on the lower BB at 8600 and an A=C rise to 8775 today).