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Strategies & Market Trends : Tech Stock Options

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To: Patrick Slevin who wrote (43294)	5/15/1998 11:09:00 AM
From: donald sew	Read Replies (1) of 58727

INDEX UPDATE -------------------------- Per yesterdays performance, short-term reversal was confirmed; however what is interesting is that the overall market gave initial signal of reversal on a CLASS 2 SELL nor a CLASS 1, which is the first time that has happened since JAN. Just another sign of topping out/weakening. Right now the DOW is up slightly, but we should be heading down and closing down for the day. Per my cycle analyis - this short-term downtrend should last a total of 3-4 days, with yesterday being the 1st. That would put the bottome of this pullback to occur Mon/Tue, which fits right in with GREENSPAN on Tuesday. As for targets, I am reducing my target slightly to 8950-9000 for this specfic short-term pullback. We should get a reversal to the upside next TUE/WED with resistance at the previous peaks for most of the indexes. The following short-term pullback to occur around May 26/27 should be larger in scope . Seeya

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