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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Arik T.G. who wrote (4407)	8/17/1999 12:53:00 PM
From: MythMan	Read Replies (2) \| Respond to of 5676

You're talking post Sept expiry then....hmmmm

To: Arik T.G. who wrote (4407)	8/19/1999 2:32:00 PM
From: Arik T.G.	Read Replies (2) \| Respond to of 5676

>>We will either halt at 1310 and try to 1350 again (my preferred choice and a more classic scenario) or drop like a rock from here (and it would be the quickest crash in history). So far the 13 dMA (SPX 1314) held and supported a nice bounce. I sure hope we're going to limp to SPX 1350sh in another 3-4 days and remain within the bounds of the classic scenario, but have no assurance of that. GE completed a classic impulse down from the top, and already corrected 3/4 of a buck shy of 61.8% (correction target 113 5/16, a strong resistance exists at 113 3/4) Upside looks extremely limited (unless we're looking at new highs soon, which I seriously doubt as I find no technical evidence to support it). The correction to the first leg down from the top may be over (but I hope will last 3 more days) and the downside potential is huge. It will end in tears ATG