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

To: GROUND ZERO™ who wrote (640)	2/8/1998 11:21:00 PM
From: Chip McVickar	Read Replies (1) \| Respond to of 745

GZ, Okay......lets see if I picked out the two correct working lows..? 1) 1st Low 1/9 7580 -- 2nd Low 1/23 7700 = 9 trading days Note: I used these two lows, because the 1/23 low broke the support line set off the High on 1/20. The weekly reversal lows were dominant up to that point....1/23 created a new low. 2) So...."High of the most recent rally after the second low"...was 7973 1/29. ~~ I counted out 9 days from this high, placed a point and layed in the support line. ~~ This was redrawn each new high from the 2nd low on 1/23. Note: I ignored the three intemidiate lows of 1/30 and 2/4 and 2/5, because they did not break support set off previous high....thus no new low or cycle. 3) From Fridays high 2/6 8189, I counted out 9 days and placed a point, giving support at about 7900 for Monday. 4) Tuesdays support will be redrawn if a new high is established. Did I chose correctly, "the two consecutive most recent cycle lows..." How did I do..? Chip