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5/16/2001
Last Sunday 5/13/2001 I posted message # 5704 where
I said:
<SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">"My problem is this: Based on my
calculation there is 2 turning points very close to each other and this is
bother me a lot because the evidence is distributed between these 2 turning
point and I did not know which is more significant unless you combine
them.
These 2
turning points are 5/18/2001 +/- 1 trading day and 5/22/2001 +/- 1 trading
day.(I will explain some of the reason of why below)
If you
cluster these two turning points you will have the 3 trading days: 5/18, 5/21,
5/22 as significant and I don't like this because I would like to be more
specific by giving one date as turning point +/- 1 trading day as standard
deviation but in this situation the BIG PICTURE will be clearer as I add
the pieces as we go "
<SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 10pt">Tomorrow is 5/17/2001 which fall in
-/+ 1 trading day of 5/18/2001 and it appear to be turning point to the
upside(as you may remember in my previous post for turning
point of 5/11/2001 which actually happened on 5/10/2001 also fell in -/+ 1
trading day), here is my reasons:
1. I consider all the reasons posted for
5/18/2001 in my message # 5704 are important but last Sunday it was not cleared
as I stated which one is more important.
2.I am posting a copy of my message #5594
dated 5/10/2001 in green color and I will comment on it in red color:
"5/10/2001
The descending has began today, it
will accelerate tomorrow.
There in engulfing bearish pattern if
you are candlestick trader or outside bar if you are in westerns school of
thoughts, there is a lot to say about these patterns, entry, exit, probabilities
and how to trade them but I leave it to others who are willing to
share.
There is engulfing bullish pattern using candle stick
technique today.
The above you can read in general
trading books so I am not going to waste my time on the above
topic.
Beside to all the pieces I added to
the big picture yesterday, there is a lot other things I have not told you and
every time you add a color or a line to the picture the picture become clearer
and clearer until it become a reality.
Mirror Image by continuing the
pattern I describe in my message 4530 and 4542( Don't follow this pattern
from this date, it is too late...)
Look at the Mirror Image of NASDAQ by putting 4/42001
as the Y axis then fold the NASDAQ print on that axis, you will see the leg
up(so far) is similar to the leg down
NASDAQ closed below the 10 day
MA
NASDAQ closed above the 10 day MA.
Look at 2 day/bar and see how Doji
bar is forming.
Also 2 day/bar Doji bar is formed
IT APPEAR 5/11/2001 WILL BE A TURNING
POINT FOR DJIA AND SP500 ALSO :-) BINGO !!. ENJOY THE RIDE AND HAPPY
TRADING.
It appear 5/17/2001 will be a Turning Point for
NASDAQ(I did not do analysis for DJIA and SP500)
Haytham
Disclaimer: THIS MEANT AS A TRADING
LIVE EXERCISE, IT IS NOT A RECOMMENDATION TO BUY OR SELL, SO USE YOUR OWN
JUDGMENT"
3. Look at the 4 arrow without comments(Standard Cycle
Analysis) and tell what do you think, do you still have doubt on how turning
point"could"be known before it happen, think of this: Do you really care what
price you get in as long as you know it is significant turning point. Imagine
how simple technique become powerful if you combine it with other tools fit your
style.
This is what I want to say, please do not attempt
personal attack or sarcastic comments, if you don't like what I post, ignore it
and move on to the next post. If you have something you can contribute in a
meaning way please do so,
Best wishes,
Haytham
P.S. Please note I distinguish between the word"Top" or
"Bottom" and "Turning Point", if you want to know the difference please check my
message dated 5/14/2001 message # 5752
<SPAN
style="COLOR: green; FONT-FAMILY: Arial; FONT-SIZE: 10pt">Disclaimer: THIS MEANT
AS A TRADING LIVE EXERCISE, IT IS NOT A RECOMMENDATION TO BUY OR SELL, SO USE
YOUR OWN JUDGMENT"<SPAN
style="FONT-FAMILY: Arial; FONT-SIZE: 10pt"><?xml:namespace prefix = o ns =
"urn:schemas-microsoft-com:office:office"
/>
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