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Back to October
98 lows then ? Hmmmmm.....for this to happen, Osama or Sadam must show their
existence.
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<FONT face=Tahoma
size=2>-----Original Message-----From: Jim White
[mailto:jwhite43@xxxxxxxxxxxx]Sent: Sunday, September 28, 2003
12:45 PMTo: realtraders@xxxxxxxxxxxxxxxSubject: Re: [RT]
Monday
Yesterday I noted that all three major stock
indexes were in a TEN buy condition indicating an up movement likely for
Monday. Today I will expand the analysis to put this in
perspective.
All three indexes (DJIA, S&P500 and Nasdaq)
share common structural characteristics and Near Impulse dates so I will
summarize for all three.
On a monthly basis all three appear to be
completing part of a bearish Elliott Wave structure from the March 2000 top.
The S&P and NAZ appear to be completing a Wave 4 up move of 6-7 months.
The DJIA is more ragged and could be in a Wave 4 or a C move. All three are
within the monthly Near Impulse reversal forecast window and giving sell
signals. The next NI forecast date is November, 2003
So, in summary, on a monthly basis all
indexes are in an up trend within a larger bear market decline but signaling a
monthly reversal. A monthly reversal should carry the DOW to the 73-7400
level, and the S&P to the 800 level.
On a weekly basis all three indexes reversed
their 5-6 week up trend and confirmed the high weekly pivot. The next weekly
Near Impulse forecast is for the week of 10/24/03 so I expect downward
movement into this time frame.
On a daily basis, yesterdays post indicated that
all indexes were in a buy condition, sharing a Near Impulse forecast date of
9/26. Three things can happen at these dates, depending on new impulses
hitting the markets. In most cases, with positive information to work on,
the markets will reverse. That is the most probable outcome. If new
information hits the markets supporting the current (down) trend condition.
the markets will accelerate in that direction. If no new impulses hit the
markets, a sideways movement could result.
The indexes also share forecast dates of 10/1 and
10/3 so my interpretation is that we get a short upward reversal into mid-week
with another high pivot and downward reversal carrying to new weekly
lows.
In PivotTrading, we do not enter positions until
some confirmation of the pivot is exhibited. Trading above Friday's highs will
be the first indication.
Hope this helps in understanding the
analysis.
Jim WhitePivotTrader.comHome of the Near
Impulse Forecaster
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----- Original Message -----
<DIV
>From:
Jim
White
To: <A
title=realtraders@xxxxxxxxxxxxxxx
href="">realtraders@xxxxxxxxxxxxxxx ;
<A title=gannsghost@xxxxxxxxxxxxxxx
href="">gannsghost@xxxxxxxxxxxxxxx
Sent: Saturday, September 27, 2003
12:02 PM
Subject: [RT] Monday
I have a TEN buy condition for all major indexes for
Monday.Ten buys occurwhen we have a Near Impulse forecast combined with
the market at the bottomof a channel and a %R buy signal. There is a
high probability of an up weekwith another reversal on Thursday or
Friday.Jim WhitePivotTrader.comHome of the Near Impulse
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