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I was having trouble with your weekly chart of INDU until I took my chart
and turned off the semi-log feature. INDU expressed on a semi-log basis
fell through the support trend line you show in your chart on or about
September 19, 2000. It has not subsequently re-penetrated that trend line
although it has risen to it and fallen off. The trend line in classic
fashion now acts as a resistance line.
Regards,
Tony
----- Original Message -----
From: "Ira Tunik" <ist@xxxxxx>
To: "realtraders" <realtraders@xxxxxxxxxxx>
Sent: December 5, 2000 11:53 AM
Subject: [RT] Dow
> Could we have a split market between the Dow and the Nasdaq? If the
> Dow breaks out above this area we could be looking at targets of 11,600,
> 13,300 and 14,000 all +/- a little, or is this just another bear market
> rally? Is tax selling over with? Looking at stocks like XRX I would
> have to say no. If you are a trader you can't afford to be bearish or
> bullish. You always have to look at what it will take to move price in
> the other direction. What in your system will tell you that price will
> move up instead of down and vise versa. When do you drop to lower time
> frames for a better picture and when do you move to higher time frames
> to get a better overall look. The Nasdaq has come within striking range
> of my downside target. Is a new bull market in the offing? I can't
> tell you, only the evaluation of the charts and price will tell that.
> The point that I am trying to make is don't become myopic. Always look
> in both directions. It is amazing how the view changes. I have attached
> a weekly chart of the Indu. Does this look bearish to you? Just
> another view. Have a profitable week. Ira.
>
>
> To unsubscribe from this group, send an email to:
> realtraders-unsubscribe@xxxxxxxxxxx
>
>
>
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