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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures

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To: GROUND ZERO™ who wrote (2739)	3/1/2003 9:43:27 AM
From: robert b furman	Read Replies (1) of 12411

Good Morning GZ, Since the low that was put in on 2/13,we seem to be putting in a higher low,with both thursday and fridays white candles. We are being held hostage by Saddam's crafty ways- I'd like to see this move up take out 1/29 high of 868.72 and then I'd believe in a short squeeze that would take your spiral verticle. The last 9 days have had positive Macd - the best part is Macd was declining and looked like it would go negative,but since thursday it stayed positive and increased-this is a sign of a good market- good markets don't dip negative - there is buying going on. The bears must pay attention to this or they will be hurt.I suspect the bears are paying attention to it, as they are the reason the bids are holding as Stochastics cycle down.The bears are covering, as when the fast Stochastics dip down the bids don't drop - the weight of the market is no longer a heavy load. Now wether this is buying - competing with the short covering ,is another good question.If it is - then an upward move will generate more buying and that will create the run for the door.gg IF, and it is a BIG IF that ocurrs - we could see that 869 get taken out.Then a whole array of fib lines come up , and 954 is huge. At that point we'd see the S&P join the ranks of tha NAZ(on 11/25/02) being able to hit a higher high since this brutal bear market.First target is 880ish - the 38.2 % retracement from the November high of 954.28? But there still is this Iraq thing - we await as the economy is quietly coming on and being relatively unnoticed.I think this is the stealth buying going on.Afterall this deficit spending has to be good for something!! Bob

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