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Strategies & Market Trends : today's chart
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To: Claud B who wrote (459)8/23/1997 11:35:00 AM
From: Claud B   of 1267
 
Gaps in charts, TA has taught us, often can signal a change
in trend or at the least the beginning of a correction.
While you will not find gaps in the charts of the Dow or the
S&P cash index (because of the way prices are reported),
you can get important clues from following the S&P Futures
contract.

Look at this chart of the September S&P contract.The correction
off the April lows ended with an upside gap that was never filled
and marked the beginning of this amazing run in the market.

Now look at the gap down from the August high. Unless that gap
can be filled shortly, it probably has signalled the beginning
of at least a major correction, if not a total change in the
major trend.

The important level to watch is the area between 949.75 and
954.25. The longer this gap remains unfilled, the stronger this
signal remains.

You don't have to be a futures trader to follow this market.

pw1.netcom.com

Claud
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