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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Tom Trader who wrote ()2/5/2000 4:20:00 PM
From: Temple Williams  Read Replies (3) of 44573
 
My Preferred Series moves higher Monday, piercing 1470 Spoos on an extension north ... before pausing to catch it's breath (and some short sellers) in a horizontal, descending triangle (some might call it a flag). After profit-taking runs its course for two or three hours, the climb resumes into the close (near 1480.00 Spoos). It then moves into a larger triangle that could overlap Tuesday and Wednesday. This might channel between floor support at 1450.00 ... and roof resistance at 1470.00 (Cash S&Ps). It would let options writers burn premium in the rollover week of February (which occurs the week before the actual expiration week)

Assuming the index makes a stab at 1478-80.00 Spoos near Monday's close (or Tuesday's open), we should touch bottom by Wednesday. Then move up to kiss all-time highs on Thursday or Friday. Then correct into early the following week. And then?

Then the Wall of Disbelief gets a fresh supply of red hot bricks from the oven. It results in a hard move higher. It might even scare some bulls in its intensity. The bears will just shake their heads in total, dumbfounded, righteous, logical, intelligent disbelief. Which I guess is what The Wall is all about. The Preferred series is charted out at my free site, which I update once or twice a month. It shows my most recent material as of today (Saturday) at sellnow.net
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