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There always seem to be the worry that you are missing the big picture. What
difference does it make what the weekly and monthly charts are doing if you are
trading 15 or 30 min chart, or using the direction of those to trade the 3 or 5
min charts. The fact is that the 5 min will turn down before the 30 and the 30
before the 60 and the 60 before the daily, etc. So if you are trading your
cycle and time frame properly and as your successful system tells you the big
down move will not be a surprise as you will be in it way before it shows up as
the obvious to the gurus and longer term traders.. Good Trading.
Earl Adamy wrote:
> Sometimes I simply comment on phenomena which I observe without
> understanding it. In this case the action does not seem to fit with what the
> talking heads opine we should see in a bear market rally. Seems like we've
> been climbing a wall of worry (fear!) here and many of the underlying
> technicals are improving. My weekly and monthly charts still say "bear
> market", however my daily NYSE and NASDAQ charts are looking quite healthy
> and I'm leaving open the possibility, based on the daily and half-hourly,
> that we may approach the old highs in the S&P.
>
> Earl
>
> -----Original Message-----
> From: GREHERT@xxxxxxx <GREHERT@xxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Saturday, October 24, 1998 3:23 AM
> Subject: Re: MKT Rally on light volume
>
> ><< The talking heads would have us believe that a bear market rally must be
> > sharp and strong on heavy volume and narrow breadth - not what we are
> seeing
> > here.>>
> >
> >Here I don't get your point. Are you saying this is not a bear market
> rally
> >but rather a "bull" market rally because we have broad breadth?
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