Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

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To: mattie who wrote (19833)	2/11/1999 2:48:00 PM
From: Clint E.	Read Replies (2) of 69123

Hi Mattie. >>>Looking at the SPX, I would have thought 1240 would have been more resistance. Do we pull back to that level near the close or have we blown it out? I would guess we need to pull back to that level, which would be healthy. I don't want to see a pull back and I don't think we'll get one. I want to see the NAZ take out 2374 resistance today and close around 2400 on ~1B+ vol. I want this to feel like we have set a major bottom and reversed up on strong volume.....Same for the SPX @ 1240 and the DOW at 9300. The breadth is fantastic, thanks to all the support that the large-caps provided yesterday. Look! Those clueless fund managers rely too much on technicals these days instead of doing what almost every wise financial advisor tells you to do which is dollar-cost averaging. My point is that they will rush back in if the technical improve. Clint

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