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

To: eabDad who wrote (26558)	2/20/1999 10:27:00 PM
From: Doug R	Read Replies (1) \| Respond to of 79230

Z, CIR is making a reaction move in response to the overdone low. It's approaching that down trend line from June '96 and if it breaks over and survives a retest it could get close to 30. It's not a MIM candidate though. I have to say here that a MIM is not something to buy into. A MIM is simply a possible wave one setting up for a monster wave three. The whole thing then hinges on certain wave two characteristics with wave three verification entirely dependent on volume and the BO. Actually the BO is an embedded wave one with the retest of the BO being an embedded wave two. The survival of the retest on heavy volume is an embedded wave three within the initial move of a larger wave three. When you get two wave threes working in tandem, you get a full fledged MIMBO. Simple, no? Doug R