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Tony:
If the others are like me then they delete 99% of what is sent on RT
because it is trash. Many have stopped contributing because of the
bashing that has become so common of late. Those that really understand
the markets read and chuckle at some of the things posted and do not
comment and are repulsed by the petty bickering that goes on. There has
been very little worth comment for some time now.
As you put forth you INDU chart I will comment on it. My work indicates
that we are in an uptrend with an ultimate target of 12,150 with
intermediate price objectives of 10,800 and 11,500. Each price objective
should act as resistance and when penetrated should then act as
support. The thing to watch out for is that price can retrace to 9500
and the trend would still be up and the above Price Objectives still in
force. So there is plenty of room to trade in both directions by
trading smaller time frames.
The Gann squares as shown with PyraPoint seem to indicate a pretty
consistent time cycle as well as intermediate support and resistance
levels.
Your post was excellent and well thought out. I hope those on the list
adhere to it. Have a good week end. Ira.
Tony P wrote:
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