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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (29862)	12/2/1997 8:50:00 AM
From: Kevin	Read Replies (2) of 58727

A moving average, I will declare as a moving average (and I did do that for the 200 DMA). Recently, I began looking at the 5 DMA to see if it will be of any use as well (I told you I would do this about a week ago). If I find that level to be something for us index traders to note, I will post that as well. One more thing: I also believe that even level strikes are a natural resistance. Not sure if I've ever clearly stated this before, but I will do so now. Example: the SPZ7 yesterday. I posted res#3 @ 972.60 and an extra res @ 971.70 On top of that, I believed that 970 would ALSO help cause resistance (same thing with 980 today). This rarely seem to be strong resistances EXCEPT @ an even increment of 100 (900 & 1000 for example). So IMO, 980 will cause some slight resistance for the SPX this morning if we move that high. And if it takes that out, my res #1 is ony 1.23 points higher. 2 very close 'weak' resistances could form a stronger resistance IMO. I'm only trying to indicate where we could find difficulties. Hope this helps even more.

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