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

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To: Investor2 who wrote (8954)	11/23/1998 10:21:00 PM
From: nicewatch	Read Replies (1) of 44573

I2, Good question. As seen today, price did not react at all to the longer term fork. Ideally, price should be responsive to the near term fork, which is slightly above today's high. Also, price is now at the upper tine of the most recent mini-fork using alternate closes (short term fork method not shown on my charts). Given the momentum of the market, I am biased to expect a reaction off of the this upper more recent tine... BWDIK. I also have no clue about the downside potential, if a dip happens. In short, the market is at a point where this most recent fork can prove itself... or not. The chart draws the picture well, I suppose we'll have to let prices do the talking to figure out the rest. To answer your question... I don't know because I don't trade the S&P anymore, but I would expect a tradeable dip soon, fwiw. Talk to you later Regards, Frank

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