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

To: Jeffrey S. Lillie who wrote (24285)	1/15/2003 1:16:30 PM
From: augieboo	Respond to of 30712

i dont know the official rules on drawing trend lines but the one that goes thru 1055 is not one i would draw. Actually, that's the MAIN trend line, i.e., the trend line which starts at the pivot. It's sort of the Capo di tutti Capi of the trend lines on the chart. Of course, the fact that it only touches two points means it is as yet unconfirmed, but it should not be ignored nonetheless.

To: Jeffrey S. Lillie who wrote (24285)	1/15/2003 1:30:18 PM
From: ajtj99	Read Replies (2) \| Respond to of 30712

Jeffrey, the line through 1055 NDX is the one that's most important right now. The wedge break was a result of a line that was drawn at a later date. Above 1055 there is still an uptrend. There is even a line connecting the 795 NDX low and the 977 NDX low that comes in lower at around 1020 NDX or so that maintains an uptrend off that pivot low, although it's not real bullish. Augie and myself are pretty picky about the trendline stuff, so you'll have to defer to us on this one <G>.