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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.17

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Dec 11 4:00 PM EST

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To: Thomas C (Hijacked) who wrote (16129)	5/26/1998 7:23:00 PM
From: Gary Martin	Read Replies (1) of 69025

Thomas, I have to totally agree with your analysis of the MACD divergences. Also, stochastics and the a/d line show distribution occurring over the last three weeks. Maybe today's 150 point drop is merely the start of the correction that follows such distribution? Also, technically, we broke down through the lower boundary of a symmetrical triangle today. Classical technical analysis predicts a measuring objective 300 points below the breakout point, which occurred today at 9020 on the June Dow Futures contract. (By the way, Dow Futures are trading below the cash Dow index in the overnight session, currently.) Good luck, Gary

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