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Strategies & Market Trends : P&S and STO Death Blow's

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To: ajtj99 who wrote (19357)12/10/2002 8:30:56 PM
From: Jeffrey S. Lillie  Read Replies (1) of 30712
 
ajtj,
should we go down hard tomorrow for whatever reason, the 990-1000 region is where i expect it to stop and give the bounce i am looking for.
reasoning. 50ema is 995, july pivot high is 992, bottom bollinger is 991 and rising. So, lots of stuff in that range. That would be a 32 to 42 point drop max.
Onishcka also thinks that we have a date with the 1000 area and it is unlikely we continue to lower levels (he mentioned 975.

Now the question is what would cause (ideally a gap down below 1014) and further selling to get the index to the 990-1000 point range.

j
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