Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Teresa Lo who wrote (24875)	6/8/1999 9:33:00 AM
From: Chip McVickar	Read Replies (1) \| Respond to of 44573

Int Spec, Do I see an inverted Prem this morning? A close of SPX at 1334.52 A close of the mini es9m at 1332 and 1332.40 for the sp9m Does this have any significance? Chip

To: Teresa Lo who wrote (24875)	6/15/1999 10:36:00 PM
From: Teresa Lo	Read Replies (1) \| Respond to of 44573

Technical Update - September S&P Futures for Wednesday, June 16, 1999 After a narrow trading range yesterday, the September S&P futures tried to rally but found resistance at the gap in the 1327-1329 area. It could not break resistance there and sellers quickly pushed the market down to test the day's low. Tomorrow will see a slew of economic statistics released in the morning, including Industrial Production, Capacity Utilization, Real Earnings, Housing Starts, Building Permits, and the must anticipated Consumer Price Index. An interesting picture is showing up on the 45-minute chart of the September S&P futures contract. There appears to be a nice neat neckline just under the gap left from last week, leaving the rest of the pattern to set up a head and shoulder bottom. We caution, however, that the pattern will be invalidated upon any break of yesterday's low of 1310. Support is seen at 1310, 1300, and 1290.50. Resistance is at 1327-1329 and 1352. The daily chart shows the 20-day exponential moving average (EMA) at 1328, where we still expect to find sellers on any bounce. Note the 20-day EMA is in approximately the same spot at the gap on the intraday chart. The 1327-1329 area is now a key level of resistance that must be overcome for the market to advance from here. Charts have been posted to intelligentspeculator.com