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--- In realtraders@xxxx, "M. Simms" <prosys@xxxx> wrote:
> I see that the SPX is looking similar in the Nov 74 time-frame....
> so you are saying if resistance overcomes this latest up-move,
> we are going back down to re-test our 775 level as in Dec 74 ?
I really don't know, but I don't expect an EXACT replay.
Even though the DJI made a new low in Dec '74, the S&P did not:
http://www.sharelynx.net/Charts/SP5001974.gif
I mentioned the SPX 'cause (to me) first resistance is very clear
and very close @ 935. Also fascinating to me: if the DJI does make a
moderate new low it might tag the 38.2% retracement
of the entire rally off (guess when?) the 1974 low (near 7480).
BTW, the recent DJI low (7533) overshot the 38.2% retracement of the
rally from the 1982 low (7555) by about 22 points. It would just
be very cool if the market paid its respects to both of those lows
in terms of pattern and price. Moreover the 2000-2002 DJI pattern has
similar feature, on a smaller scale, to the 1966-1974 DJI pattern.
http://www.sharelynx.net/Charts/USDJIND1960.gif
BW
>
>
> > -----Original Message-----
> > From: tradewynne [mailto:tradewynne@x...]
> > Sent: Friday, August 16, 2002 11:26 AM
> > To: realtraders@xxxx
> > Subject: [RT] Re: bottom?
> >
> >
> > Still a major test overhead in the SPX from 935 to 950.
> > Previous hourly to weekly swings, and the weekly "neckline."
> > Also, check out the 1974 DJI charts.... so far the pattern is
> > similar. We'll know pretty soon.
> >
> > http://www.sharelynx.net/Charts/USDJIND1974cr.gif
> >
> > BW
> >
> >
> > --- In realtraders@xxxx, BobsKC <bobskc@xxxx> wrote:
> > > Well, I had doubted that a bottom of any significance had been
put
> > in but
> > > reading this list, I am not so sure now. The doom and gloom and
> > tomb
> > > comments are everywhere. Prector is being quoted. The future
is
> > bleak to
> > > non-existant. The Chinese are taking over America if not the
> > world. Banks
> > > and the Fed are both gambling. Capitulation is at hand .. (or
has
> > it
> > > happened?)
> > >
> > > Bob
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
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