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

To: John Meade who wrote (28882)	7/29/1999 11:04:00 AM
From: Chip McVickar	Respond to of 44573

I'm using the 15 min chart SPX Median line off 7/23 spread 27th low and 1370 high There may be others...but I've been concentrating on 15 min and 30 min charts...1346 may not hold..... There are Time Projections at 11:05 - 1day 11:30 - 12d 12:10 - 1d

To: John Meade who wrote (28882)	7/29/1999 11:09:00 AM
From: John Meade	Read Replies (1) \| Respond to of 44573

Chip, I can't see(what group of buyers) who will support that lower tine. All the leming buyers that bought the tops of 7/15 -7/19 have already been slapped and the bottom pickers of 7/26 - 7/28 just got slapped today. When I look at todays chart I see the first group of sellers just finished and the second group about to step in. Keep in mind I have been known to be VERY wrong but that is my take on it right know. (Show me the buyers/money - a gap down against a real long position like this morning is something that makes someone consider strictly daytrading) John