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Strategies & Market Trends : Ask DrBob
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To: longdong_63 who wrote (33750)5/16/2001 9:26:22 AM
From: Louis V. Lambrecht  Read Replies (1) of 100058
 
ld - no idea for where we are heading

Naz PMI (down 20) and futures (22pts below fair value) are on a make or break level (futures 1780, NDX 1775).
Either a fall towards the 1700-1750 range, or a attempt back above 1800.

1787-1757 are the two pivot supports on the futures (less 6 for the NDX cash): expecting 1757 to be hard to break.

Oddly enough, yesterday's close was exactly at MaxPain for both the SPX and the cubes, suggesting further sideways movement till options expiration.
If we go sideways, we will be back in the downtrend channels next week and puke.

So, toss your tree-sided coin. <ng>
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