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Symmetry means that the right and left side of something are alike. with the markets this is not true. If the market is rallying then the
high will usually occur during the last half of the cycle, sometimes on the very last bar. In a down market then the high comes during the
first half of the cycle. There is no symmetry. The lows should be equally spaced at 10 bar, 15 bar or # bar cycle, but the cycles are not
symmetrical in their individual shape. The second down leg could be symmetrical with the first, etc. but to call an up leg symmetrical to a
down leg is usually not true because of the translation of the highs.
"Dorothy K. Carter" wrote:
> IRA: While I expect a rally into Nov 1, NDX has given the following
> downside targets:
> 1137.25 787.08 .......... Pls explain why I forgot about
> translation????? Best, Dorothy
> ----- Original Message -----
> From: "Ira Tunik" <irat@xxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Sunday, October 28, 2001 11:08 PM
> Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
> bulls and the bears?
>
> > You talk about symmetry and forget about translation.
> >
> > "Dorothy K. Carter" wrote:
> >
> > > I agree the next leg down ... there will be no place to hide... The DJIA
> > > will most probably be taken down harder than NAZ.... To get the real
> idea of
> > > where NDX is at take a look at monthly chart symmetry would suggest
> that
> > > if a rally ended Fri. with the sharp reversal as suspected, then that
> high
> > > would be equal to monthly high of 7/31/98 1485.97. As stated
> before...
> > > with US$ turning down it's the foreign sellers that we have to worry
> > > about.... The U.S. investors have shown resolute and won't capitulate
> until
> > > Sept. lows are taken out most probably....... Have a great week
> > > trading............ Dorothy
> > > ----- Original Message -----
> > > From: "Rakesh Sahgal" <r_sahgal@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Sunday, October 28, 2001 1:00 PM
> > > Subject: Re: [RT] Case for the bulls-Maybe there is a case for both the
> > > bulls and the bears?
> > >
> > > > Am attaching two charts using Clyde's adaptive stoch indicator on the
> > > D/W/M
> > > > time frames. Seems that the tech bust is almost finished and as Earl
> had
> > > > suggested a while back the "REAL" economy stocks in the DJI are the
> ones
> > > in
> > > > serious trouble now.
> > > >
> > > > Rakesh
> > > >
> > > > At 09:34 AM 10/28/01 -0800, you wrote:
> > > > >Hi All,
> > > > >
> > > > >IMHO, speaking only to the NDX, the bears are quietly, slowly
> > > > >being squeezed hard. Unless some serious exogenous (external)
> > > > >event occurs they seem about to have their heads handed to
> > > > >them. Anthrax news has not been even nearly strong enough to
> > > > >stop this. 5 min NASDAQ adv/decl volume bars have been clearly
> > > > >bullish for a couple weeks. Additional support comes from the
> > > > >bears quietly changing their retest the lows in October
> > > > >prognostications to retest the lows in November/December. I'm not
> > > > >saying the long term downtrend has changed, nothing's different,
> > > > >bearishness seems justified.
> > > > >
> > > > >But, unless I had a solidly profitable short position or just
> > > > >went short in the last few days with a close stop, I would be
> > > > >losing sleep now.
> > > > >
> > > > >Maybe I'm wrong. This market has shown the absolute minimum of
> > > > >bullishness possible every step of the way this year. But that's
> > > > >the beauty of day trading NDX futures. It means never having to
> > > > >care which way the market goes so long as it moves 8-).
> > > > >
> > > > >regards,
> > > > >
> > > > >tbr
> > > > >
> > > > >_________________________________________________________
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