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

To: Defrocked who wrote (36643)	10/14/1999 11:47:00 AM
From: John Pitera	Read Replies (1) \| Respond to of 44573

the euro is doing better than well...really showing nice strength. I hear you on the 1265 area on the dec spoos. SSB was mentioning that level this morning in there futures comments. It's going to bad news with the PPI if it's a blow out strong number. I'd say you buy bonds and bond calls at 9:45 est. tomorrow if the stocks are getting pounded lower. ----------------------- SP GLOBEX HIGH 1299.30;LOW 1289.50;CLOSE 1294.50 . SP CLOSED UNDER ITS 21 DAY MA YESTERDAY THEREBY SETTING UP TEST OF RECENT LOWS. IT WOULD BE UNUSUAL FOR SP TO CONTINUE TO IMPROVE BETWEEN NOW AND THE END OF THE YEAR WITHOUT FIRST TESTING RECENT LOWS. YESTERDAY'S MOVE GIVES THE SP AN OPPORTUNITY TO DO THIS TEST. THIS TEST CAN TAKE PLACE ANYTIME BETWEEN NOW AND EARLY NOVEMBER. SP ALSO CONTINUES PERFECT RECORD OF FILLING ALL OF ITS GAPS SINCE APRIL 1ST WITH YEST MOVE TO 1295.30. AS OF NOW THERE ARE NO GAPS UNTIL SP GIVES US ANOTHER ONE. SP TESTED 2% UNDER ITS 21 DAY MA WITH 1289 LOW. SP 21 DAY MA NOW AT 1315-16, MAKING 2% UNDER 1288-1290 AREA. MAKE 1288-1292 FIRST SUPPORT. UNDER 1287.50, WHICH WAS FRIDAY OCT 1ST OPEN, TEST 1280-1282. UNDER 1279.50, TEST OCT 1ST 1276.50 LOW. UNDER 1275.50, TEST RECENT LOWS IN THE 1265-1270 ZONE. RESISTANCE LAST HR HIGH 1297 UP TO 6TH HR 1306 HIGH. OVER 1306.50, TEST 5TH HR 1309 HIGH. OVER 1309.50, TEST 3RD HR 1313.50 HIGH. FAIR VALUE+954 ;BUY+1120;SELL+800.