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Strategies & Market Trends : The Player's Club

SPY 670.21

-1.1%

Nov 6 4:00 PM EST

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To: JDinBaltimore who wrote (7323)	3/15/2000 9:08:00 PM
From: Chip McVickar	of 11513

Hello John, Tomorrow is PPI and if it comes as expected and reasonably positioned the market should climb higher. I thought today's action was remarkably powerful, otherwise any upside would be narrow. SPX and Dow have outside key reversals. Both stayed above the lower tines of active forks and reached above two active median lines. Plus both advanced over some Fib areas and the Dow broke thru a major trend line. GZ and I have been discussing the last four days on the Dow and the combination of Lindahl Wiggles that have appeared. Friday, Monday and Tuesday completed a 3day sell wiggle.... However today reversed and completed a 3day buy wiggle from Monday. Both are clean and well defined patterns.... This suggests a strong upward push. But with some caution and mistrust attached. Today was beautiful for a bull, but only the first push with a strong cross currents cutting towards the upwind mark. I've been baffled by these counter currents...my reads and trading has been poor over the days. Hope Your doing better with the CB's..! Chip

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