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Strategies & Market Trends : Why the markets will continue higher... -- Ignore unavailable to you. Want to Upgrade?

To: ratan lal who wrote (29)	12/3/1997 6:04:00 PM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 745

Hi ratan, I would be glad to discuss this technical analysis with you, and thanks for being patient with my explanation. I actually laid out this method in great detail to another poster earlier, I believe on another thread. You could review my earlier posts, but to clarify what I recently posted. Here goes...and we'll do just one line for example... Basis the SP cash, when you bisect the Oct97 high and low, you have a point which is midpoint in both price and time. Just take your old fashioned ruler and bisect those two points. Make a dot right there. Now, from the low made in mid Sept., draw a line to that midpoint dot and continue drawing that line so it extends forward in time. It will be a rising line of resistance, not support. Stop here, do you see it? With all due respect, your confusion may be due to old fashioned trendline thinking. Throw it out. This method is very different. Let's stop with just this. Do you see the line I describe? Do you see how the minicrash stopped right on the line I described in the earlier post, that time a support line because it was drawn off a previous high. Lines drawn off previous lows show resistance. I realize this is confusing because it is new. New to you, I've made plenty with it over the past twenty years. It is very simple, and once you get it you will be startled as you go over old charts and find this method to be a highly reliable indicator. I'm not selling it, I'm sharing it with anyone who might find it helpful. You ask what I think the SP will do tomorrow. I don't day trade, I position trade. I would like to see a 40 or 50 point down day to work off this slightly overbought condition, but if I were forced to "guess" I would say it will probably go higher. It looks too boyant to correct even here, and the 30 minute chart still looks positive. I think alot of shorts can get hurt, BWDIK, day trading is an area I know very little about. GZ