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I keep looking at the seeming complacency of the VIX and NDX version
thereof and think where's the fear to propel it into something big?
That slow grind decline seems the perfect response -- gets a little
oversold like today, then sharp rally, then do it all over again.
Just like a grinding bull only reversed. And many major world markets
seem to be doing some version of it. Australia is an exception. Good
news is the grinding is very tuned in to pitchforks!
Have a great weekend,
Chris
--- In realtraders@xxxx, Timothy Morge <tmorge@xxxx> wrote:
> 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@xxxx>
> >To: "Chris Cheatham" <chrischeatham@xxxx>
> >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@xxxx>
> > > To: "Don Ewers" <dbewers@xxxx>
> > > 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@xxxx>
> > > > To: <chrischeatham@xxxx>
> > > > 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@xxxx>
> > > > > To: <realtraders@xxxx>
> > > > > 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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