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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: Tom Trader who wrote (7100)	10/23/1998 1:24:00 PM
From: donald sew	Read Replies (1) of 44573

Tom, Just posted this on TSO. I know it sounds strange. >>>> INDEX UPDATE --------------------- I just checked my short-term technicals and very surprisingly, the DOW is already in the mid-range at 53, which is smack in the middle. I realise that many are saying that we have had 7 up days in a row. From my system it is actually that today is the 3 down day, keep in mind that the highs were at 8650. As I always say, when the short-term technicals are in the middle, it is then a flip of the coin for the direction from here. In other words, Monday could pop to the upside or continue down. The NAZ is OVERBOUGHT so that may minimize any rise in the DOW. I would be cautious in playing any new PUTs today. Im not saying that the market will take off strong from here, but that we could see a little more upside, from here,before the market pullsback stronger. Another way to put it is that we could retest the 8650 market again on the DOW before the bigger pullback. It actually caught me by surprise that my short-term technicals are already in the mid-range. Please understand that my anlysis is more based on time than price moves. Seeya

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