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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: F Robert Simms who wrote (13778)1/26/1999 2:36:00 PM
From: Bull RidaH  Read Replies (1) of 44573
 
Robert,

I just shorted the XLK at 36.425, and am looking for 1255 to hold on the March S&P (based on this a.m.'s reverse head & shoulders pattern, and the wedge formation whose point landed on 1255). If we go back down through 1248, I'll have my confirmation. If we see 1258, we'll be looking at 1263 probably, and as high as 1268 before the rally off the Monday lows finishes up.

Regards,

David

P.S. The 50 to 62.5 % retracement for the move from last weeks high to Friday's low lands in this area as well (52.5-58).
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