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G. John B has posted that he will give us a more elaborate
discussion of his Symmetry Wave analysis some time this
weekend.
Let me show you how (in addition to using SM) I look at
swings and what they may tell us.
The attached is a screen from a Quote.com workspace.
What I do is go back and find zones which have downtrend
lines similar to those shown here.
Within those zones I draw lines from significant (I think) peaks
to significant valleys. Then using the CLOSE capability in
Quote.com I move those lines to the most recent peak (if as
now we look down -- otherwise to nearest trough using upgoing
lines) and this gives a quick look at what recent behavior of
market has been. This is a cheap and dirty SM using only
a small amount of data.
The purple lines are the ones that I found and it surely looks
like from their inference that 700 or so is next stop!
And guess what -- I'm long puts for what it is worth.
Clyde
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Clyde Lee Chairman/CEO (Home of SwingMachine)
SYTECH Corporation email: <clydelee@xxxxxxx>
7910 Westglen, Suite 105 Work: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
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