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August 23, 2005
Trendlines revisited, Tues, August 23, 2005, 1:15 PM
When a trendline is drawn through a series of cycle low points; that's a support line.
When the trendline is drawn through a series of cycle high points; that's a resistance line.
The longer the line, as in years, months, weeks, days, or hours, the more weight one must put to the trendline validity.
Here's a resistance line, noting that in recent minutes, the Dow 30 has improved a little:
Posted by Posted by Bill Cara on August 23, 2005 01:18:18 PM | Category: Cara Today in the Market , Trader Tools , Trend & Cycle Phases , U.S. Dow 30