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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: bruce-l who wrote (46694)	2/19/2006 11:26:21 AM
From: Doug R	Read Replies (3) \| Respond to of 79205

Bruce, I'm leaning toward reset for now. It doesn't look like there's any inclination for any base to set up, ie no several month-long trading rangey stuff...maybe a few weeks at most if there's a dip coming this week. The dow has broken over a 3 month H&S and that kind of breakout can really get legs sooooo...of course, with no basing there'll either be 1. a relatively strong downswing on a breakout failure or, if no failure 2. a moderate upswing or 3. a strong upswing. At this point I'd assign an equal probability to each of the 3 so upswing of any kind is 2 to 1 over downswing. A strong upswing could get the dow to 11,400 in a relative hurry which would show up in this Ratio activity as a reset. That's why I'm asking for a look at the chart. If the Ratio does 'short base/dip/jump' the market should too. So far the Ratio has the short base/dip with a bit of increase starting in the prehits and a bit of drop in the inverse prehits so there's a hint of something there. thanks, Doug R