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

To: nicewatch who wrote (9156)	11/30/1998 9:59:00 PM
From: Brian Hornby	Read Replies (1) \| Respond to of 44573

Frank, Just for fun I had my chart system draw the pitchfork for the SP cash. Its automatic result (not always the best, you can pick the significant points yourself) matches your chart pretty well. The tines are slightly lower with it breaking slightly above the upper tine on 11/23 the following the same trend the next three days, with each close right on the upper tine trendline. It looks to me like 1130 range is where the center line will be in the next day or two, which perhaps may provide some level of support? (I don't know much about this method, but I understand the center line is more of a turning point - correct?). Failing that level, it looks like 1070 level would be where it hits the lower tine, which I believe is more or less at a traditional support point. Of course there is other support around 1095-1100, which perhaps could provide a bounce back through the center tine if it gets that low... I understand from GZ's earlier discussion that it may pivot up and down around the center line so this may be a possibility, I don't know, fun to play with it anyway. Brian