Go to Jeff Salisbury LWGate Home Page.From: "Hill, Ernie" <Ernie.Hill@ElPaso.com>
Subject: RE: [CANSLIM] M tomorrow
Date: Wed, 3 Jul 2002 07:00:31 -0500
Previous Article (by Subject): Re: [CANSLIM] IBD "Bull" Call "Tom Worley"
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In answer to your first question the turn high window of within four trading
days of 7-15 is where I expect the short term rally to terminate. How the
market reacts to the next turn low after that will determine if it is only
the first leg up of a multi week rally or just another reaction against the
down trend.
As for the answer to your second question the chart I posted was not my own,
but one I found in another group. I thought it was quite amazing and
something this group should be aware of. I am not at one of my "base"
computers so I can't call up the chart and look at it, but I seem to
remember that the chart has a target area of about 870 that corresponds to
another area on the left side of the chart. If that is the terminus point
for the symmetry or not I do not know. I do however, highly doubt that it
will be the end of this bear market.
E
- -----Original Message-----
From: rolf hertenstein [mailto:rolfh@mindspring.com]
Sent: Tuesday, July 02, 2002 10:13 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] M tomorrow
Hi Ernie - I'm trying to jibe this post with last
week's 'market geometry -
head& shoulders' post in which you mentioned that
the pattern looks
bearish 'for some time to come'. Two questions:
1. Is the potential rally mentioned below one of
those several-weeks-long
rallies seen on the right side of the head &
shoulders pattern?
2. How far does the head & shoulders go, i.e.,
where does the symmetry
end? This is likely not answerable, but I'm
curious anyway.
Thanks for your posts.
Rolf
> If the market continues to go south tomorrow the
downside risk is to 933 on
> the S&P. If the low turn was not made today it
will very likely be made
> tomorrow. We should then get at the very least a
tradable rally, and there
> is strong potential for an explosive move to the
upside.
>
> E
>
>
>
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