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Jayson,
thank you for your reply.
the tough question, if the market goes lower, will be the UNKNOWN
technical areas. Instead of "cross the bridge when we get there", it
would be better to plan this probable event and see the proper T/A
tools to solve it.
This is the main question, we have some 25 to 30 bars more, enough
[?] time to wonder...
Dimitris
--- In amibroker@xxxxxxxxxxxxxxx, "Jayson" <jcasavant@xxxx> wrote:
> DT,
> I have to believe todays saving grace for the Nas was that Cisco
did not
> disappoint. Had the news been poor (er) from last nights earnings
we could
> well have seen a very ugly day. Given the fact that CSCO traded
172% of its
> 50 day MA of volume and still struggled to close flat for the day
does not
> bode well for tomorrow.
>
> Your glasses are fine, the picture is not clear but a break one way
or the
> other is bound to be substantial. I fear this support level , for
the Nas
> and several of its key components, may soon become resistance.
>
> Jayson
> -----Original Message-----
> From: DIMITRIS TSOKAKIS <TSOKAKIS@xxxx> [mailto:TSOKAKIS@x...]
> Sent: Wednesday, February 05, 2003 3:40 PM
> To: amibroker@xxxxxxxxxxxxxxx
> Subject: [amibroker] Below the support line
>
>
> I was a bit anxious to see ^NDX breaking its recent support line.
> One of the basic characteristics was apparent today.
> Below the support it is easy for the market to erase early gains.
> This is the way the support becomes gradually a resistance.
> We need some further evidence:
> When the market will go lower and will attempt to reach again the
> support/resistance level.
> In the lack of success, the market should find new, lower
equilibrium
> areas. The lower we go the more uncertain.
> With this "simple" mechanism we see new LLV for more than 3 years.
> The end of this procedure is not visible [for me]
> Shall I spend some money to buy new glasses ?
> Shall I trust the next fib level ?
> Shall I decide for some Elliot subwave 3 of wave 4 as an alternative
> of subwave 5 ?
> Shall I trust a great automatic trading system with great profits in
> the past ?
> It is better to know BEFORE.
> After the turning point, EVERYBODY will find the reason.
> I have to know before.
> And, it is not the easiest thing in the world.
> Dimitris
>
>
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