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

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To: Jerry Olson who wrote (10399)	12/15/1998 9:29:00 PM
From: Chip McVickar	Read Replies (1) of 44573

Hello OJ, Remember....GZ has the goose in his arms and he is singing to it. I.....on the other hand have a handfull of tail feathers and the golden eggs keep hitting me on the head. Soon enough I will catch one. Using Franks charts on S&P There are 3 forks in play...[2 are drawn] #1-the original fork of GZ's off the Sept low #2-off the sept high #3-a small fork off Nov high and pointing down [the least powerful] Today....the market bounced up off the middle tine of the major #1-fork Tomarrows Resistance....at the upper tine of the #2 fork...about 1185 Resistance to the downside is about 1075 where the lower Tine of fork #1 appears in time and price. Should that be taken out....1040 appears on the middle tine of fork #2 Tomarrow the market would be expected to follow the middle tine, and stay flat because of political weather and perhaps give back atleast todays gains, maybe settle around 1150 [where time/price meet on #1's middle tine] The small fork #3 is pointing down and the bounce today was exactly where it's middle tine crossed the middle tine of #1-GZ's original. What would be the next base as found within these forks...? Probably down to the lower tine of fork #2 at about 900-850....markets seem to bounce off lower tines. A round trip for GZ who now I believe has 2 short contracts. Is this predictive....maybe, but the forks seem to just focus attention on points in time/price. My guess FWIW....the market remains at the middle tine until the vote is announced. Then a sell-off maybe monday....how far...WDIK ? Hope This helps.... Chip

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