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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 690.40

-0.5%

4:00 PM EST

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To: jjs_ynot who wrote (17527)	8/5/1998 4:10:00 PM
From: space cadet	Read Replies (1) of 69747

dave, I got the same feeling on this late rally. I think the big boys just used up a lot of their precious ammo on that rally and given that the funds are near an all time low on cash I don't think they can afford too many more of these "victories". They may have won the battle but the war is still in question. I think the next 2 days are absolutely crucial. If we go up from here then at least a temporary bottom is in place but I personally wouldn't bet that way, though I'm still on the sidelines.

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