Trend Setters and Range Riders Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Trend Setters and Range Riders

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: .Trev who wrote (945)	1/2/2001 10:03:47 PM
From: Susan G	Read Replies (3) of 5732

Trev, I don't follow the SPX closely enough to know the support levels well, but I do know it broke important support today as OJ was tracking it in the trading room. And the second it broke it tanked further... From the chart alone I would say it's definitely heading towards the Oct 99 support, which is also a support area from January 99. If it breaks that we better all run for the hills with our cash in our pockets, or in short positions... 1233.66 was the October 99 low. There is going to be major selling if that is taken out, And next support is around 1219 for the January lows. It may bounce there as many will expect it to.. Although there seems to be a little support right below 1200, (the double top from July and Oct 98) after that the only decent support I see is right above 1100 from April 98. And if that goes, Queen Abby may have to pawn her crown! We'll definitely be in crash mode then... Just like the nasdaq seems to be in now. Relentless selling of the Dow and S&P will be brutal IMO. And a major crisis too.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next