AI
Friday, April 18, 2003 1:47:05 PM
Thoughts on Retracement theory?
If looking at that chart and keeping the retracement theory in mind we have a similar reverse head and shoulders pattern as in 1997-98. If the retracement theory is to continue to play out then the next top in the markets, my guess is in May/June, will lead to one of the biggest declines in the markets from May/June until October. That would be the exact retracement of the markets Incline from May/June of 1997 until Oct 1997. I don't have any retracing software to check the exact dates and the dates do not really matter. All that matters is whether the chart retracement theory will continue to play out from the tops in 2000. Is there any specific reason you abandoned the retracement board and theory? Just curious as it could still continue to play out. BTW, I am still short term Bullish as the markets are indeed above the longer term moving averages :^)
If looking at that chart and keeping the retracement theory in mind we have a similar reverse head and shoulders pattern as in 1997-98. If the retracement theory is to continue to play out then the next top in the markets, my guess is in May/June, will lead to one of the biggest declines in the markets from May/June until October. That would be the exact retracement of the markets Incline from May/June of 1997 until Oct 1997. I don't have any retracing software to check the exact dates and the dates do not really matter. All that matters is whether the chart retracement theory will continue to play out from the tops in 2000. Is there any specific reason you abandoned the retracement board and theory? Just curious as it could still continue to play out. BTW, I am still short term Bullish as the markets are indeed above the longer term moving averages :^)
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
