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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 684.84

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To: Clint E. who wrote (16584)	6/15/1998 3:33:00 PM
From: space cadet	Read Replies (1) of 69169

Hi Clint, As I mentioned last week, the option activity will cause this to be a sluggish week. Despite the Dow being down 100 it still feels pretty slow to me. I believe now that the correction will probably end will a dramatic turnaround day, ugly ugly in the morning and then a robust recovery in the afternoon. If we can't get one of those turnarounds then the market is definitely sick. I expect that day to come some time next week. If it doesn't occur in June this could be a long boring summer, but I still doubt that. Meanwhile I notice that some of the top tech stocks are barely off their highs. MSFT is imprisoned by the Jun options. Once they expire I expect MSFT to recover and Michael Jordanlike to carry the entire market with it.

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