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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures

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To: GROUND ZERO™ who wrote (5473)	10/6/1998 12:18:00 PM
From: donald sew	Read Replies (3) of 44573

Ground ZERO, So far lower lows and lower highs. However the the TICK is negative 1000. That means 2 things - there is selling, but it also means that since the market is up 50 points with a negative 1000 TICK, a positive TICK movement could send the DOW up fast, very fast. The RUT and NAZ are selling off faster than the DOW which is not a good sign, and the market internals are far from being strong. In light of such I feel today's highs are basicly the short-term highs and the STAIR-STEP covering the range of 7500-7900 is holding so far. Unless we close near the highs, within 25-35 points, the probablity of surpassing 7900 in the short-term is declining. On the other hand I would not be surpise if we closed dead flat or even negative, but dont think it will at this time unless the TICK MOMEMTUM weakens alot more. Seeya

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