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One other item of note relates to symmetry ... note the absence of pivot
lows on the way down. This means there is no natural symmetry and a long and
uninterrupted run of resistance on the way back up, thus the 62% retracement
is a kind of natural spot for a rally to pause.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, July 17, 2001 12:15 PM
Subject: Re: [RT] Intra-day market activity
> Look at the confluence on 39 minute chart of the 62% retracement of the
> decline and the 100% ABC expansion of the first rally off the low all
coming
> together at 1216+-. This was a good place to take profits and look for
> possible entry on retracement.
>
> Earl
>
> ----- Original Message -----
> From: "Randall Kurzon" <rkurzon@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, July 17, 2001 11:59 AM
> Subject: Re: [RT] Intra-day market activity
>
>
> > Well we sure seem to be hitting overhead resistance. One of my
proprietary
> > oscillators says this move up will take a little break now- we'll see. I
> > show the next major resistance level at about 1220 and then at around
> 1225,
> > Friday's high. Anyone see a particular reason we should be stalling out
> here
> > (1214-15)?
> >
> > Randall
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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> >
> >
> >
>
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