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Strategies & Market Trends : The Stock Market Bubble

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To: epicure who wrote (919)	8/3/1998 4:56:00 AM
From: Arik T.G.	Read Replies (1) of 3339

X, >>Does anyone out there see a rally next week? I see a rally from around 538 OEX 1090 SPX. By the time this target is reached, today or tomorrow, the market would be oversold and have to correct, but that rally is going to be short lived (3-4 days) and the down trend should resume as soon as the tecnicals calm down a bit. Next stop 200 DMA around SPX 1030. After the wild jump on Thursday the market gave all the gains back on Friday, and then some. This should discourage dipsters further, and we may see a very sharp drop today. GLOBEX futures around 11-12 points below fair value give the taste of today's market. I suggest if you're going to try going long the futures, wait until very late today (after 14:30) or, preferably, tomorrow morning. ATG

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