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Strategies & Market Trends : The Player's Club

SPY 683.38

+0.1%

Nov 12 4:00 PM EST

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To: Jerry Olson who wrote (5061)	1/31/2000 2:15:00 PM
From: Chip McVickar	Read Replies (2) of 11513

Hello Jerry, This Fork has been very strong. SPX...Handle 12/3/99 high....1350-55 today was the lower tine off [spread 12/9 low and 1/3/00 high]....it's median line is around 1400ñ. This major and active fork suggests a bounce to 1400 over the next few days. However, another fork handle 1/3/00 high and the following spread [1/5-1/14] points down agressively.... Its' center tine is pointing at 1300 for the next few days and going lower. The market has been following its upper tine down since 1/14 high. So the market needs to break 1380 [upper tine off-1/14] and this may not happen until Feds announcement. With the SPX on the 200sma it's at a pivot. I don't believe any charting TA knows what direction it will take before 2:30 tuesday? What do you think? Chip

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