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> 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.
FWIW, *if* the market had similar percentage rallies compared to
the fall of 1974 the SPX might hit 960+ and the DJI 9100+. Again,
I'm NOT saying that will happen, but if it did, it would probably
suck in the bulls and knock out the bears just at the wrong time.
*IF* the pattern continued to follow 1974.
--- In realtraders@xxxx, "tradewynne" <tradewynne@xxxx> wrote:
> --- 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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