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Things look messy now on the 5m charts, so one needs to be guided by the
higher time frame. I believe that the chart I posted this morning showed an
initial downside fib objective of 129850 and nothing has happened (yet)
which negates that projection. The downside 100% expansion on the 5m chart
projects to 1200 - I am ignoring the "Greenspan spike" and using the price
pair on either side at 1215. The fact is that the market has very much moved
out of symmetry and will be choppy until a consensus forms.
Earl
----- Original Message -----
From: "Randall Kurzon" <rkurzon@xxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, July 18, 2001 9:19 AM
Subject: Re: [RT] Intra-day market activity
> No need to stop the intra-day discussion <g>. I was out most of the
morning
> but as I write this I have fib S/R levels at 1212.25, 1210.50, 1208.50
> (rounded) and we have just turned down from 1212.50 (ES). I see that
1202.50
> looks to have held which I assume we could say is close enough to
> yesterday's low. Just now another test of the 1212.50 area which looks
like
> it might soon be broken. I assume if we head on up then the 1218.25 day
> session high will be tested followed by the 1220 area again. Thoughts from
> others?
>
> Randall
>
> After writing this 1212.50 has been broken. Is 1218 next?
>
>
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