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Strategies & Market Trends : Tech Stock Options

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To: Tom Trader who wrote (31425)	12/17/1997 2:51:00 PM
From: Muizz M. Kheraj	Read Replies (1) of 58727

I'd like some help here from some of the more technical people on this thread (and hoping I am not too late to react). I have noticed a triangular formation on the SP500 10 minute chart starting from the close yesterday. The base for the triangle has been formed by yesterdays dip down to 965.9 near the close, then today's selloff early to 968, and the subsequent retracement around 1:15EST today at 969.4. The top of the triangle has been formed by today's early morning rally to 974.2, then today's rally after the early morning selloff to 972.2, then the intermediate pop about 1:45EST today at 971.3. The numbers may not be EXACT..but the triangle is closing. Technically what does this mean? Are we going to break out to the upside or to the downside? We seem to be closing the triangle at 970.50. Muizz

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