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I've seen many, many people drawing head-and-shoulders formations
(non-inverted) on daily charts of the last month or so. Not just in this
forum but also on free and pay sites. Aren't H&S formations supposed to be
topping formations, not intermediate bear market formations? And if those
same people tried, could they find and inverted H&S formation on the current
daily/weekly charts? What does this say about market sentiment?
Kent
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <MedianLine@xxxxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, January 07, 2003 2:19 PM
Subject: [RT] setups
OK, this is the setup I am looking at for a long exit/short entry. Today
marks the 4th day of a positive NDX net percent up down volume (up -
down)/total. A lower high on the 4th bar of a 4 bar set with a higher high
on the NDX may be a prelude to a down day the next day...at least that is
the thesis being examined. Perhaps it is reinventing the wheel, but
discovery sure is fun as is the journey. I had an options system that could
quintuple the account in 5 weeks of OEX trading. It was so boring I quite
trading it, |;-) .
bobr
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