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Hi Tim,
If you will allow me to impose on you, will be very
grateful if you could examine the chart attached with
respect to the pivots used. Could this have been done
any better?
TIA
Regards
Rakesh
--- Timothy Morge <timothymorge@xxxxxxxxxxxxx> wrote:
> Good evening.
>
> Even before the gap open lower this morning after
> the 7:30am numbers,
> looking at the SPX 60 minute cash chart gave you an
> indication that price
> was at a real danger zone in terms of running out of
> upside directional
> energy. On the attached chart, you can see that the
> best price could do
> yesterday in the cash was test the confluence of the
> two major down sloping
> Median Lines--and Median Line theory tells us price
> SHOULD do something
> significant at that area. The confluence, coupled
> with the gap lower on the
> opening turned out to be the tale of the day...There
> is a more detailed
> explanation on my web page at:
>
> http://www.medianline.com
>
> I wish you all good trading.
>
> Best,
>
> Tim Morge
> www.medianline.com
>
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