Saturday, July 14, 2007

TREND Chart: PRICE Needs To Challenge Last PRIME Support In Order To Head Higher

With a PRIME Matched Resistance Top at 1565.50 on the TRADING Chart, at the close of last night's trading session, PRICE looks set to head lower next week, to challenge last PRIME Support at 1515.25. Again, let me clarify this statement - It doesn't necessarily mean that the markets are gonna collapse from here. What it basically means is that PRICE will challenge the PRICE range from 1565.50, down to 1515.25. The end of the down move would be signalled by a PRIME PPF of Support, on the TRADING Chart - and further supported by the TREND Chart's indicator pointing up.

" We trade PRICE, and not Indicators. The Indicators are merely to confirm the movements in PRICE "

Bill Schamp, Trader Logic

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