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I have been reading a lot about the trend here of late. As for the
trend on the longer term charts, it has been down since the January high
and projected a low in the mid 700s, with support in the mid 800s. I
don't give specifics any more because of all the static it creates.
When one speaks of trend it should be kept within some type of context.
The trend is strictly dependent on ones reference time frame. Some
people are trading a 39 tick chart and others are trading a daily or 15
min. chart. One persons trend becomes another persons contra trend
trade. The arguments about trend really don't mean anything until you
define what set of time frames you are going to trade and the length of
time you intend to be in the trade. A trend trade in the S&P is
certainly different then a trend trade in the currencies. One can last
a few minutes and the other months, even years. So when calling a
trend, please note the time frame or chart so that there is a
reference. thanks, Ira
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