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Politics : Idea Of The Day
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To: jayhawk969 who wrote (20264)9/10/1998 8:14:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
I think Primakovs communist leanings are troubling Germany's DAX, the market here in Europe would like to see strong leadership in America which is absent as such markets would like to settle in lower band until things get settled..Until we see a close above 1600 1000 and 500 on three most important indicators I will trade the market from a defensive bias- only a close above these levels would give me a indication that market has found its interim support for me it is OEX and Composite more important than DJIA at the moment, a continued weakness in OEX and composite will bring should be taken as a signal of a fall whereas a strength in these indexes would be helpful towards a move up- I will watch for composite OEX divergence in first 45 minutes -- S&P sometime has its own agenda so some lower supports can be tested like 972 but overall hte cue will come from composite and OEX drift.
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