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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (7674)11/2/1998 2:48:00 PM
From: Patrick Slevin  Read Replies (1) | Respond to of 44573
 
Let me take a stab at that before GZ answers, just to see if I approximated it right using the computer screen.

First of all, it's a function of time for as time passes the upper tine declines.

If the upper end were to be hit today, it would approximate 1165 Cash. As time goes on that target gets lower until a new Pitchfork is created.

Sound about right, GZ? I'm wondering if I'm close.



To: Tom Trader who wrote (7674)11/3/1998 6:14:00 AM
From: GROUND ZERO™  Read Replies (1) | Respond to of 44573
 
Tom,

The pitchfork is really a sophisticated instrument, but to answer your question directly, the fork shows that, if the SP cash continues to rise, there is likely to be selling at around 1180.

Pat is right about his assessment, I think he has the idea.

GZ


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