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

To: Jerry Olson who wrote (13571)	1/24/1999 9:24:00 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 44573

Jer, You are so right, but you would still measure it from the high of the column of Xs....therefore the relevant number would be 58%. This would indicated a bigger pullback than if it reversed from 54%. This is all assuming that it does continue to reverse down. I'm expecting some strength tomorrow in the DJIA since it is at a double bottom support. If it hits 9050, as you suggested, I would not be surprised with a move to 8700. X