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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?


To: Lee Lichterman III who wrote (42247)7/22/1999 7:22:00 AM
From: bearshark  Read Replies (1) | Respond to of 94695
 
Lee: You have it down well. Yesterday morning in the first half-hour we had 103 million NYSE shares. That is a bit high. They generally were moving on the upside. In the last half-hour we had 125 million (from memory) NYSE shares. That was a bit high. They generally were moving on the upside.

This is the buying pressure that I want to exert itself. However, we are at the pinnacle of several key supports that I use. That is consistent with your post also. It is up to the buyers to show that they have the horses. If they are only ponies, I will turn negative quickly.

If the Greenspeaker says anything intelligible, I hope it is construed as bullish--at least for now. Many times, I believe the reporters interpret his mumbles.



To: Lee Lichterman III who wrote (42247)7/22/1999 8:45:00 AM
From: Chip McVickar  Read Replies (1) | Respond to of 94695
 
Lee,

There is an out side week in place as of tuesday in most of the major indexes. If it closes below last weeks lows it will be a clear Reversal Week. If the SPX closes below 1360....it will be a 2 week reversal. I believe that would be very powerful.

With that said...Greenspan could send the market Higher on neutral or positive statements and rearrange this weekly set-up.

Chip