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

To: SE who wrote (9748)	12/8/1998 11:14:00 AM
From: Chip McVickar	Respond to of 44573

Scott, There is another enrty point for a long this morning on the SPX A fork formed off the 9:45 high at around 1175 for a biscet of the next low and high...fork is pointing up. When the market retraced to 1184 it touched the lower tine... This point also corresponded with an exact forward time projection as described. One would have entered a "long" at this point and on that 1st bounce. The market then returned to the lower tine and penetrated it....causing concern that the move up might break down.... But shortly it broke upwards to upper tine....towards 1187 [weither you sold at the penetration of the lower tine or stayed in, has to do with your stomack, but I would not have lasted more then one extended tine lower] A new fork then formed off the low at 9:50 and another has formed off the 10:10 high....this fork in time projection matched the recent move down from off the upper tine and towards its middle tine. The market then bounced off the middle tine around 1185.5 and going towards the upper tine. No dominant fork seems to have been formed yet, but perhaps a fork off the early morning lows will turn out to be just that.... Would you still be long...? I will not be able to contnue this today. Hope this is of interest. Chip [Remember these are opinions and sharing of concepts, they are not recomendations for buying and selling anything I am not a professional]....you have to point this out in todays world. NOTE: The fork off the earliest lows appears to be carring the markets move up the middle tine...one would still be long.