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Strategies & Market Trends : Tech Stock Options
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To: Patrick Slevin who wrote (48566)7/27/1998 2:50:00 PM
From: donald sew  Read Replies (2) of 58727
 
Patrick,

Take a look at a 10 or 15 minute chart on the SPX and OEX and there is a clear short-term double bottom formation at 1129 and 553 respectively.

I feel that we saw the short-term bottom for this specific down cycle.

My TICK ANALYSIS is still showing a bias to the upside with the UP-MOMENTUM at .60-.90 and the DOWN-MOMENTUM at .36-.50.

Still see upside and about 50%-60% rebound of recent loss(say 150-250 DOW points), then it downside fun should begin.

Seeya
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