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

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To: Tom Trader who wrote ()	1/22/2000 8:48:00 PM
From: Temple Williams	Read Replies (3) of 44573

I think the S&P index should keep dropping on Monday. My work projects an extension lower. That seems to be the best way for the index to test the S&P 500 lows of the year (1377.68 Cash), which printed in early January. Any large money flows into the index could always stall and reverse the slide towards that January low. I don't think a "stall" will happen, however. I believe we will see a pinprick south of the lows (perhaps by as much as 5 handles), to the 1372.00-1377.00 Cash area. Probably by the end of this week. That is often how the "smart money" gets a final rush of permabear sellers to "buy the bottom" ... which then becomes fuel for a sharp reversal higher. Anyway, I see the 1372.00-1377.00 Cash area as important ... a potential launching pad for sharply higher prices in February and early March. Here's my 2-min Spoos chart for Monday, fwiw, imo, etc. sellnow.net Here's where you can see the 6-min chart (one level up from the 2-min chart shown) sellnow.net and here's the 18-min chart (another level up) sellnow.net

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