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this was done on Dec 14 and today it is Feb.
4th. Did things happen as noted in this post. let us look and see.
<BLOCKQUOTE
>
----- Original Message -----
<DIV
>From:
<A title=mr.ira@xxxxxxxxxxxxx
href="">mr.ira@xxxxxxxxxxxxx
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="">real traders
Sent: Sunday, December 14, 2003 8:32
AM
Subject: [RT] Market condition
I have been reading a lot of opinions on the
market and no definitive parameters. Here is what I see on my
charts. I am using the S&P Index as that appears to be the focus of
most of the group.
We are in a bear market until 1180 is taken
out. So far 1180 is still intact.
Until that time the probability of a 560 low still
exits. If the 1175 should have read
1075. resistance area holds the next move down has a
slight probability of forming a double bottom at about 790. If 1075
resistance doesn't hold the next major resistance appears to be 1130.
1130 did act as temporary resistance prior to the
low on the 13th.
The next market low should appear about
1-15. This happened on the 13th instead of
the 15th. A cycle dynamic. Whether that low is above or
below this point time will tell. There is nothing that
says lower at this time. It hasn't gone
lower in spite of all the bearish prognostications. My next
upside target on a shorter time frame would be about
1092. This target was
hit about 12-24. At this time 1050 would have to be
taken out before any significant down move could take place. If your time
frame is really short look for resistance at 1076 and then at
1080. This did offer resistance until
12-17. So with the right system things can be predicted with a
certain degree of accuracy. This was all done before the fact,
not after the fact. Good trading, Ira.
Bull or bear is strictly dependant upon your
frame of reference. Can you make money being long in a down
market? Yes. Can you make money being short in an up market?
Yes. One just has to know when to put on a position and when to exit a
position.
Now that my neck is hanging way out, let us see
what happens. Hope that your week ends are going well and good
trading in the coming week, IraTo
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