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Strategies & Market Trends : APMP (formerly APM) -- Ignore unavailable to you. Want to Upgrade?

To: marc chatman who wrote (8529)	11/13/1997 11:48:00 PM
From: Rudy	Read Replies (1) \| Respond to of 13456

>Is the 7450 now intact,...< Marc, My interpretation is, DOW tested 7450 intraday and closed above it. That means the support held. Support/resistance levels are usually at the points where price is most concentrated. The most they are tested the stronger they get, the closer they are historically the stronger they are. In that regard, today's low does not have much of any significance, if any. 7450 is still the support level. DOW is trying to find its trading range. Is it between 7165 and 7450 or 7450 and 7630? This will be decided first or it'll just simply tank which is least likely. Most of us forgot or never experienced trading range activity of DOW or NAZ. Last few years it's been up up and up with minor blips here and there. I'd be happy to see some trading range activity, maybe 6 months before it resumes uptrend. It would give earnings a chance to catch up expectations. Just my 2 cents.