Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Michael L. who wrote (15477)	4/25/1998 6:23:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79460

Michael, A MEEP is where the price hits the extended line formed by the final downtrend before the gap down on a PGDCEB. When the signal day is concurrent with a MEEP, that should be a strong signal. With the S&P, I went to the first very short term downtrend near the top of the recent run. I also used the second one for another possible target point. The points come where those lines intersect the uptrend line formed by the 2 downspike days from the Oct. correction. In determining very short term upward price projections I use lines akin to the IL as well as recent short term uptrends that have been broken. Although they have been broken to the downside, they are useful as lines of resistance on a stock that has a strong breakout as FAXX did. In the case of FAXX, I used the intersection of two such lines that occurred on the day you asked for a target. You know how much I like intersections. Doug R