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Tom Alexander wrote:
>Hi Stuart,
>
>I agree with your analysis (probably not a good sign if you're looking to
>short <g>). The biggest problem I have with the idea of an immediate
>downturn is the relentless strength in the breadth. While I agree
>wholeheartedly with your e-wave count, I would watch breadth closely and
>would not put on shorts until you start seeing some divergences in breadth
>against price.
>
>As for potential downside targets when (if ! ) we turn down, I will be
>looking at the lows of the recent consolidation for support and/or a .382
>retracement from whatever high is made from the April lows. Quite often the
>two levels will line up very closely.
>
>Regards,
>
>Tom Alexander
>
>----------
>> From: stuart <slingerfelt@xxxxxxxxxxx>
>> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
>> Subject: Important top??
>> Date: Friday, July 04, 1997 11:58 AM
>>
>> Using Nature's Pulse I'm finding some significant relationships with the
>> resulting dates of July 10-11 for the s&p 500 cash market.
<snip>
Tom and Stuart,
We might also want to watch the Nasdaq100 and
the Tbonds. Often, a dump in these markets will
presage an S$P 500 decline.
Walt Downs :)
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