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some bounce ... couldn't even retrace half way to 1172! next symmetry level
is 1155.60 and if it doesn't bounce there look out below!
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, August 29, 2001 7:25 AM
Subject: Re: [RT] s&p
> Pivot low at 1162.20 was tagged so now in bounce mode ... question of the
> day is how high does it bounce. Key symmetry resistance level per chart I
> posted is left pivot at 1173 ... rally above this level breaks downside
> symmetry which has been a common occurrence in this chop so we could
easily
> retrace 50-62% of Monday's decline for 15+ handles.
>
> Still, nothing has really changed unless you consider Gateway's
expectation
> of a profit by excluding taxes and a half-billion restructuring charge
> bullish. What is amazing to me is that for years we have seen company
after
> company (not just tech either .. IBM, T, etc.) announce multiple
> extraordinary charges which wipe out all of the previously reported
> "profits" and investors consider this bullish.
>
> As for the GDP revision, it was revised down by 70%+ and there is another
> revision to come so it's no big deal that a recession has not yet been
> declared official.
>
> Earl
>
> ----- Original Message -----
> From: "Earl Adamy" <eadamy@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Tuesday, August 28, 2001 4:11 PM
> Subject: Re: [RT] s&p
>
>
> > If you read symmetry (39 minute chart I posted earlier), the roadmap
looks
> > pretty clear ... tag the left pivot low at 1162.20 and then bounce. The
> > interesting thing was how the market so studiously avoided dropping
those
> > last few ticks. The mystery now is in how the plot unfolds or, if the
> market
> > chooses to change symmetry by not tagging the finish line or dropping
> > through it like a rock, then how that will unfold.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Tuesday, August 28, 2001 3:10 PM
> > Subject: Re: [RT] s&p
> >
> >
> > > in hindsight his symmetrical levels
> > > played well. double distribution was the winning guess, but it was
> > decidedly
> > > UN-symmetrical. where is value zone tonight?
> >
> >
> >
> > To unsubscribe from this group, send an email to:
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> >
> >
> >
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http://docs.yahoo.com/info/terms/
> >
> >
> >
>
>
>
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>
>
>
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