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

To: ajtj99 who wrote (41223)	11/23/2002 12:56:37 AM
From: Challo Jeregy	Read Replies (2) \| Respond to of 52237

to be honest, aj, I might have been a tad too optimistic on the spx chart -g- when one uses the "traditional" chart, it is a 5 box chart. That is more short term - I didn't post it but it looks quite bullish, with a triple top break out at 930. Support line (BSL) is at 880/885. stockcharts.com ------------------------------------------------------------------------------------------------------------------------------------------------------- now, let's change the traditional chart to "user defined" and a 10 box chart. Dang. That one looks even better. -g- It broke thru the resistance (BRL) on that print of 930. stockcharts.com -------------------------------------------------------------------------------------------------------------------------------------------------------- OK. Now I'll use the 15 box chart. The 20 box chart for longer term. (You can change the boxes at 5 box intervals. Sometimes one can see anything they want to, just like traditional TA. -g-) This chart looks like resistance coming up at 990 (minor rest at 945. We got to 937 today. I haven't looked to see when we were there last.) Now, the pullback that had better come <g> next week - See the strong support in the 885/855 area? (That is where there are solid lines straight across in that area.) stockcharts.com This is where traditional TA is better at looking for support. If it dropped past that area, I would worry, because the 780 support is not that strong. Now, to be fair, P&F is NOT the only TA to use. But when used in conjunction with traditional TA, it is very useful, imo. I'm absolutely positive that Jorg can add to this. ;-) I'd do the nasd, ndx but have got to go. Maybe tomorrow, if you are interested. oh - one more thing - looking again at that 15 box s&p - It could also stop right where it is. If you notice, during the down trend, the spx never made it all the way to the BRL. No TA is perfect. -g-