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Strategies & Market Trends : The Millennium Crash

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To: Cynic 2005 who wrote (1499)	11/20/1997 10:34:00 AM
From: Arik T.G.	Read Replies (1) of 5676

ABOUT THE MARKET 1. The SPX support at 900 got yet another reinforcement as the market opened afterburners from 903 to 945 in no time. 2. On the OEX chart the 5 days EMA crossed 21 EMA up yesterday, creating a buy signal. 3. The OEX reached the target area I have marked for it last week (910-915) on the day specified, although not the way I thought - Mon. was very strong because of Tokyo vs. my prediction for weak Mon. and strong Tue and Thu. (My prediction is on reply #7939 on your thread) 4. Today and tomorrow the market is facing a decision point. A pullback from current (OEX 914) level will probably occure toorrow anyway, but the question is how steep it would be. The possible paths are: a. Another down leg, breaking at last SPX 900 support. b. Final run to dow 9200+ late Jan-mid Feb '98 and Millennium crash. 5. The market would indicate the course it wants to take. A high today of close to OEX 920 (my guess 917) and a pull back tomorrow to intraday ~909 would indicate a stong market. A high today of ~915 and low tomorrow of under 900 would indicate a weak market. 6. The bullish indicators of last week would turn bearish only after the OEX would stay below 900 for a day or two. ATG

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