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Here is an updated 60min with the first hour bar relating to the post below
(other one was missing it).
----- Original Message -----
From: "Don Ewers" <dbewers@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Thursday, October 11, 2001 9:25 AM
Subject: Re: [RT] Bull to Bear
> Ralph,
> Here is an updated 60min SP cash chart, still showing wave 4 but at the
.618
> level now and importantly the 10/70 has lost control.
>
> One interesting note on the chart is, notice the red line from wave 2 to
the
> red wave 4 channels (barely visable just above the 4C since just starting,
> unlike the long green and blue ones), anyway that line is supposed to
> represent resistance which capped the move so far (as would have been
lines
> drawn from wave 2 to the last green or blue dot on those wave 4 channels).
>
> The red PTI in the lower right is a low 23, so as I have posted before
when
> the weekly, daily and 60min all folded into each other, that the first
> indication of a pattern problem would occur here on the 60min chart.
> Netting it out, it still some "cracks" and the low PTI is saying at best
any
> wave 5 will be a double bottom or a failed 5th which never makes a new low
> and could even just keep going up.
>
> Notable on the daily SP cash chart is the fact that the PTI there has
> dropped to 22 from the 42 on my chart from 9-30-01. Actually it dropped
> below 34 on 10-3-01 again indicating if a wave 5 occurs it will likely be
a
> double bottom or a failed 5th as described above.
>
> The softwares recommended strategy would be to buy a retracement (or test
of
> the low should it occur) after which some buy indicator trips, since the
> 1-2-3 down is likely to relabel into a big A-B-C (daily and 60min) as
> discussed in a previous post (what if they change the lock discussion).
> don ewers
>
>
> ----- Original Message -----
> From: "Ralph Volpe" <rjv@xxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Wednesday, October 10, 2001 11:53 AM
> Subject: [RT] Bull to Bear
>
>
> > I haven't heard much lately from the Bears, and I hope some are still
> > out there. It was my view nearly two weeks ago that a reversal was
> > imminent from the lows after the WTC, and that seems to have occurred,
> > but to a dramatically lesser degree then I expected. This rally has
> > significant flaws that I think will weigh heavy on any further progress
> > in the markets from today's close forward. Now, if there are any Bears
> > still out there, I'm ready to snuggle in with you. Is there room to
> > accept a recalcitrant Bull?
> >
> > --
> > Ralph => E-mail => rjv@xxxxxxxxxx
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
>
> To unsubscribe from this group, send an email to:
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>
>
>
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>
>
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Attachment:
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