<<Spz new contract.. so 1373 is resistance, so if we go up from 1376 we head to 1392..we will test 1365 area, everyone who wanted to go long on opening has been filled at 1376 now they will be stopped out, so pits will bring it down and than go up.. >> Message #28761 from IQBAL LATIF at Sep 10 1999 9:49AM
Next message identifying the support..
Friday, Sep 10 1999 10:14AM ET
Reply # of 28766
1361-3 is the area..
They brought it down on a solid opening, cleaned out the longs on the opening below the support of 1365 they took it to 1361, the people who were seeing market higher and wanted to get in fast on the opening.. got what they deserve, a bad fill on the open and a bad fill on the way down, you are filled your long at the worst possible price and stopped out at worst possible.
Hitting the 1361 and now we are right back up to 1372 area, the next resistance is 1373.5 we cross it we are going much higher with small interim reisistance at 1376 where it was the top in the morning.. to 1392 in next few sessions, we need BKX move forward and on 785 break we will see it helping the SPZ... the divergence between NDX and SPX will narrow as BKX rallies.. if we fail here we go and test 1344 area on the dec SPZ.... LThe message today again saved us from a huge whipsaw, on the opening relax and on the dip entered ....I am watching that 775 support I will try to close out my longs and enter short below that level..alos my stop profit is at 1367// |
