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I noticed that yesterday's close is basic resistance to upward movement.
Moving above that with any kind o decent issues and volume will be bullish.
eh?
Don Thompson
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 17, 2001 12:20 PM
Subject: Re: [RT] Intra-day market activity
> Randall,
>
> Great topic. I have been looking at the same thing. Here is part of my
> attempt to understand the market today.
>
> Michael
>
>
> ----- Original Message -----
> From: "Randall Kurzon" <rkurzon@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, July 17, 2001 10:43
> Subject: [RT] Intra-day market activity
>
>
> > Perhaps we can start a useful (or at least interesting) discussion about
> the
> > intra-day characteristics of some of the more liquid markets. My own
> > experience is most heavily focused on the SP/Mini SP. I've noticed
lately
> > that some of the simpler fib levels and night session highs and lows
seem
> to
> > be providing good support/resistance. Using today's action so far in the
> SP
> > as an example, the 38.2% retracement (using the TS retracement tool)
from
> > 7/02 high to 7/11 low was at 1202.36. We bounced quickly from that area
> > (1201.50 close enough <g>) pausing at 1211 which is close to the 50%
> > retracement for the same period and also was the night session high. We
> also
> > saw considerable resistance in the area of 1206 which was a shorter term
> > retracement level.
> >
> > Intra-day I have levels right now at 1208.75, 1207.50, and 1206.00
> (rounded
> > up or down a little). Just a few minutes ago we bounced off 1206.25.
Seems
> > to happen too often to be coincidence. I don't look for price to hit the
> > levels to the penney but close seems to count quite well.
> >
> > The guys on listen only squawk always talked about how night session
highs
> > and lows were targets as well. This too seems to be very consistent.
> >
> > Comments from others regarding all of the above?
> >
> > During the course of the day, if I don't have to run out for some
reason,
> > I'll post periodic observations of what I see the market doing in
regards
> to
> > these levels and look for responses for further discussion.
> >
> > Regards, Randall
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
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