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Chris:
IF we climb out of this hole, it will be a very major low. First sign, a
break above the 1210-12 area. Most important test: a break and close above
1248-51. I'd also note that the Nasdaq comp is the least bearish of the
index charts, using my work. This close went a long way to potentially
healing some of these charts.
Have a great weekend.
Tim Morge
www.medianline.com
At 03:37 PM 8/10/2001 -0500, you wrote:
>Here's my dow. The white labels (which I described earlier) are still my
>favorites. The trendline I colored white is a major long term pitchfork
>going back 2+ years. If it goes, I am afraid I am way off base. It's
>probably hard to see on the chart, but today's high was right on the blue
>downtrend line connecting the beginning of 1 and the end of 2. Still the
>yellow labels could makes sense to me for the Dow.
>
>The compq is pretty similar count sa this. Except you have to call it a
>diagonal triangle 1. Of note, this could also easily be called an ABCxABC
>(and there are some Gann angles that support this). My problem with this
>though is the combo of the deep retrace and the time overbalance ( a lot
>more time in the correction than the move up. The other thing that makes me
>more bearish than not is the charts of GE, IBM, MSFT , etc. and a lot of
>sectors which to me count best as 5 down abc up. yet another... the astro
>is awfully bad this fall. I have a hard time picturing what the NDX/compq
>do if the dow does the alt scenario...maybe sit around?
>
>We'll see. Some Gann guys I know think today is a very big low.
>
>Have a nice weekend,
>Chris
>
>----- Original Message -----
>From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
>To: "Chris Cheatham" <chrischeatham@xxxxxxxxx>
>Sent: Friday, August 10, 2001 3:06 PM
>Subject: Re: [RT] Re: Fw: [AdvancedGET] RE: targets for naz and dow
>
>
> > If I understand you correctly your wave 5 is wave 3 on the chart and wave
>4
> > is wave 1 and wave 5 in progress is wave 2?
> >
> > Certainly possible and count will change if we keep rallying. Only concern
>i
> > have is the economy needs to turn or we may not have seen the lows, thus
>the
> > debate.
> > don ewers
> > ----- Original Message -----
> > From: "Chris Cheatham" <chrischeatham@xxxxxxxxx>
> > To: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > Sent: Friday, August 10, 2001 1:13 PM
> > Subject: Re: [RT] Re: Fw: [AdvancedGET] RE: targets for naz and dow
> >
> >
> > > Sure, wait til the close -- I'll draw something up , if it goes up here
>I
> > > might change it just a little.
> > >
> > > CC
> > >
> > >
> > > ----- Original Message -----
> > > From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
> > > To: <chrischeatham@xxxxxxxxx>
> > > Sent: Friday, August 10, 2001 12:28 PM
> > > Subject: Re: [RT] Re: Fw: [AdvancedGET] RE: targets for naz and dow
> > >
> > >
> > > > Don't follow, can you send gif?
> > > > don ewers
> > > >
> > > > ----- Original Message -----
> > > > From: <chrischeatham@xxxxxxxxx>
> > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > Sent: Friday, August 10, 2001 11:50 AM
> > > > Subject: [RT] Re: Fw: [AdvancedGET] RE: targets for naz and dow
> > > >
> > > >
> > > > > My seat of the pants count is that we have finished 5 down abc up
>and
> > > > > we are in 1 of 3 now -- I look at the dow/sp and ndx/compq -- the
> > > > > difference is that the dow and compq did fairly regular abcs, while
> > > > > the sp and ndx did and expanded flat b wave. Of note the midcap
> > > > > russell, etc. also fit this scenario pretty well. Not sure what to
> > > > > make of today, the low was a b wave?? seems too small for a 5.
> > > > > Sittin' back til I get a clue.
> > > > >
> > > > > Chris
> > > > >
> > > > >
> > > > >
> > > > >
> > > > > --- In realtraders@xxxx, "Don Ewers" <dbewers@xxxx> wrote:
> > > > > >
> > > > > > These two posts are from the AGET list but some on this list might
> > > > > find them
> > > > > > interesting, Gann-wise (considering todays action so far).
> > > > > >
> > > > > > If the analysis is correct, a rough day today into Monday perhaps?
> > > > > >
> > > > > > Also attached is my AGET daily chart of the SP (pit session only)
>I
> > > > > have
> > > > > > been following, with todays action so far (in a 5th wave down).
> > > > > >
> > > > > > Does anyone else get they feeling "they are loading the boat" with
> > > > > this type
> > > > > > of choppy trading?
> > > > > > don ewers
> > > > > >
> > > > > > ----- Original Message -----
> > > > > > From: <tobtrade@xxxx>
> > > > > > To: <AdvancedGET@xxxx>
> > > > > > Sent: Thursday, August 09, 2001 4:33 PM
> > > > > > Subject: [AdvancedGET] Re: targets for naz and dow
> > > > > >
> > > > > >
> > > > > > Which is close to 1841, which is the Gann 2/8 division of the
>range
> > > > > from Jan
> > > > > > 95 low of 745 to the March 2000 high at 5138. The 2/8 line is
> > > > > usually
> > > > > > a major area of support for a downward slide...
> > > > > >
> > > > > >
> > > > > > ----- Original Message -----
> > > > > > From: "Lee Morris" <LMorris@xxxx>
> > > > > > To: <AdvancedGET@xxxx>
> > > > > > Sent: Thursday, August 09, 2001 10:10 AM
> > > > > > Subject: [AdvancedGET] RE: targets for naz and dow
> > > > > >
> > > > > >
> > > > > > Here is my 2 cents, we will bottom on Monday at 1845 which is 90
> > > > > days past
> > > > > > the 4/4 low and I think Friday is 55 days from the high, this
> > > > > correction has
> > > > > > been a double zig-zag and the 2nd ZZ will be .62 of the 1st at
> > > > > 1845. There
> > > > > > is a 4x1 Gann line from the 4/4 low, further this will be a 9 and
> > > > > 18 month
> > > > > > cycle low and it feels like the right distance after taking out
>all
> > > > > the
> > > > > > stops sitting under 1935, it also is the bottom of a linear
> > > > > regression
> > > > > > channel from the hi on 5/22 and sits on a trend line from 4/00
> > > > > lows, just my
> > > > > > thoughts, I may be wrong
> > > > > >
> > > > > > ps. for the dow the bottom should be 9955-9962 but may stop just
> > > > > over 10,000
> > > > > >
> > > > > > also consider:
> > > > > > 45 tds from June high
> > > > > > 139 tds from Jan high (close to 135)
> > > > > > 270 tds from July00 high
> > > > > > 360 tds from March00 high !!!!
> > > > >
> > > > >
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