Replies to post #194448 on Zeev's Turnips Patch-No Politics (ZEEV)

[TREND1]

Zeev
If historical area of support and resistance really worked,
don't you think we would see many more double tops and
bottoms?

On the other hand historical area of support and resistance
do give important bench marks as to trend of market.IMHO.

Do you actually buy or sell at historical area of support and resistance using these as BOXES ?
I do not thing you do.

[bl]

Zeev<It is that peak value at 5100 plus on the Naz that included a lot of those now delisted companies and contributed to the peak with excessive weight on the index.> So the strongest survive and of course we have new listings now too. What chart number would put us in bubblemania? 3100? Thats my max high for the year, also a Fib.5 retracement/necktie.