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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (21772)	12/5/1998 9:23:00 AM
From: Jerry Olson	Read Replies (1) of 50167

Morning IKE Hope you and the family are well... i just did an update on P&F for the SPX & DJIA...interesting divergence... SPX---we rallied off 1135 straight up to 1190, rev. down to 1155, then ran up to 1175, then sold off to support 1155 again...BTW i was posting to TT's thread 1155 first support 1135 major support... this index is still on a buy signal...it just now did a 4 box reversal up...IMO 1180 is no real res. 1190 is...if we print 1195 Ike, that would be a Double Top Buy signal, and a Blue Sky Breakout(BSB)... The DJIA...just got an Alert!! MO turned NEG!!! from 8800 we rallied to 9350 sold off to 8900, but on this index we have NOT reversed up yet..9050 would be a 3 box reversal up....now Ike on this index there would not be another buy signal till we printed 9400!!!!!! so my conclusion is this...if the SPX prints 1195 which is about 18 points away, this market will explode....and, the DJIA would still not give a confirming buy signal...there is room for making big money in this next move...if all the pieces fall into place... Just got my Travel & Leisure Magazine...wonderful article about Xmas in Pareee...super gorgeous pictures of skaters, and lights and good stuff...sure will be nice there IKE... my regards, Jerry...ps...i never miss one of your posts....:>}

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