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Strategies & Market Trends : The Rational Analyst -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (227)	1/19/1998 9:59:00 PM
From: HeyRainier	Respond to of 1720

[ Microsoft Trendline ] Glen, you are correct in that the 3/24/97 has a lower low, but if we were to connect the trendline from that low to the highest low immediately preceding the highest high, we'll find that in order to do that, the trendline must cross through some bars in between the two points of the line. Remember, according to the rule, the trendline must not pass through prices in between the two points. Therefore, the next lowest low that can be connected to that highest low preceding the highest high, without crossing through some bars, will be on 4/14/97. Regards, Rainier