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As I have posted earlier the Industrials right now are locked between 10,000 +/-
and 11,000+/-. Until one of those levels is broken you will not see anything
major. We have just hit the 11,000 level and are in a retracement of that up
move. Which side the break will come from time will tell, but in the mean time
a lot of money can be made on a 1,000 point swing. Ira
Dom Perrino wrote:
> A look at the DJIA daily chart looks bearish to me On 9/15 we made an
> intraday high of 11110. On 1/03 we had an outside day with an intra day high
> of 11015.On 1/04 we made a higher high than on 1/03 of 11028 on lighter
> volume than on 1/03. Looks south on Dow. The rally on the Dow of
> approximately 1000 points from 7/28 to 9/06 started with the decline that
> commenced on 9/15 that's why I went back to 9/15. We could not even achieve
> the 9/15 level. The foregoing was strictly from chart inspection . My
> indicators are not up to date.
> Dom
>
> ----- Original Message -----
> From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxx>
> Sent: Saturday, January 13, 2001 11:07 AM
> Subject: [RT] MKT - INDU
>
> > Just wondering if anyone else has a take on this DJIA Diamond pattern? Is
> > it still operative or has it expired? The NSync oscillator(a composite
> > oscillator) suggests the best buys occur when the Daily and Weekly have
> > dropped to the 20% level. Both are below 50% and headed down as of the
> last
> > few weeks. The Monthly crossed below 50% in Oct/November after many years
> > above 50%. When the Daily and Weekly cross under the Monthly some serious
> > price erosion occurs. This sort of has the feel that the year end rally
> > started in October and has been peaking . The next post will look at the
> > NYA net cumulative volume with respect to the DJIA.
> >
> >
> > BobR
> > http://www.oextrader.com/sigma_trader
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
>
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