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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: ajtj99 who wrote (114229)	3/3/2005 2:18:05 AM
From: The Freep	Read Replies (1) \| Respond to of 209892

But AJ -- if you take that monthly chart and take the last two times it had 2 months of down then draw a fork like yours, the bottom tine broke both times. Did that mean we were going down? No. It meant that it wasn't a valid fork. Based on your claim that "rules of TA" say we're going up, I'd say that back in mid 2004 we shoulda kept going up and by now we should be right near 2000 NDX. Didn't happen -- cuz there was no rule that said it. There was a two month uptrend, that's all. Stealing from stockcharts definition of the Andrew's Pitchfork: <<The points selected to begin the pitchfork are usually three consecutive major peaks or troughs.>> If you can show me how your fork has any relation to that, I'm all eyes.... I do agree that as long as your scenario is true, it remains true! And I remain in the bull camp til proven wrong. But your red fork isn't one of the reasons. the freep