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VK,
My stars say sideways to lower for
another week.
Regards,
Norman
<BLOCKQUOTE dir=ltr
>
----- Original Message -----
<DIV
>From:
<A title=thegirlisherenow@xxxxxxxxx
href="">victoria keeling
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx
Sent: Monday, January 27, 2003 5:53
PM
Subject: [RT] NDX_60m
okay, it's a wrap...will support hold? two guys I respect a lot [larry
pesavento and bob carver] are both very bullish as of today...while I am not
sold yet, I have to concede that this game is always full of surprises. a
final thrust up would likely catch the most traders with their pants
down...and that being the biggest joke the mkt likes to play, it could very
well happen. but first things first...in spite of all the super-duper
techniques we have to forecast direction, price always has the final
word...and what it's saying right now is not decisive, either way...teetering
on the precipice as it is.
the attached chart shows my bottom-line litmus test and it is a simple
one...a swing low printed on the hourly chart today (actually printed in the
first hour and then dropped lower still as the day progressed!) must
be confirmed...and it ain't happened yet! I want to see the RSI
up--straight as an arrow--to convince me that we really have this swing
low in place. it simply does not fail if we're gonna get more that a 25-30 pt
move.....which is fine, but I'm not daytrading right now so I'm
personally looking for a more sustainable move.
a final note: the mkt has been reacting to war drums for the past 2
weeks...even if GW says he's going in personally to off sadam, we could get a
small relief rally this week, just because the tension will break...that's all
I can forsee in the bullish scenario--the possibility of higher prices from
which to go short!
anyway...blah-blah-blah...here's the chart...
V
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