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Strategies & Market Trends : Tech Stock Options
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To: coug who wrote (45986)6/16/1998 11:16:00 AM
From: Patrick Slevin  Read Replies (1) of 58727
 
June 10 started with a gap-down open, about 3 spoo points.

The early bottom was at 10:05 ET basis the June Futures. Then it progressed higher with 3 extreme TIKI readings, 2 at lunch hour and a negative reading at the start of the last hour, with the market falling apart starting at 2:05 ET.

Except for the gap-open vs the gap-down, it does appear somewhat similar but recall that June 10th dropped to new lows after travelling about 15 spoo points north and taking all day to do it.

It was quite a decline that day, I remember just dodging the bullet as the spoos went from 1127.50 to 1110 even, 14 points of that decline in less than a half hour.

I think that was more unusual than this day would be, but I don't discount late afternoon selling if it continues to plod higher. It seems recent action has been to turn the day around completely in the late going.
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