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Strategies & Market Trends : Tech Stock Options
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To: Kevin who wrote (29748)12/1/1997 11:26:00 AM
From: Kevin  Read Replies (2) of 58727
 
Market comments:

My first post this morning, I added an extra range of resistance:
>>>I did several extra calculations which indicate a strong resistance in the SPX @ 962.88 - 964.09 and 963.30 - 964.90 for the SPZ7.
If this area is taken out (on both), I'd consider it a break out and IMO we'd make a rapid move to res #3.<<<

Now that we are past that, I have another rnage that is proving to be resistance in the futures already. 971.70 - 972.60
For the SPX it is 970.37 - 972.78

The futures have entered this range a few times and quickly dipped back below, but the cash has not made it to this area as of yet.
IF we can break this area with the cash and futures, then I think we have ourselves a very strong rally that should continue throughout the week (pending no MAJOR market shaking news).

Kevin
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