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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: fut_trade who wrote (1336)	11/16/1999 9:35:00 PM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 19219

Peter, SPX made an intraday alltime high today per Yahoo quote: 1420.36 vs. 52 wk high of 1420.30. My main question here is, assuming SPX goes higher tomorrow, how do you calculate resistance levels in uncharted waters? >>S&P 500 resistance levels - 11/16/99 Short term 1420 (strong) Medium term 1487 (strong) Long term 1535 (medium) 1626 (strong)<< And secondly, do you have a guess as to how soon we hit the next resistance level on your list, of 1487? By Friday? Next week? Three more days like today, and SPX will be at 1495. Perhaps, since now we know that Greenie wont be bothering us anymore, we hit first resistance tomorrow? Or perhaps an intra-meeting rate-hike will cause us to shoot straight for your next Long term target of 1535, blowing right through 1487? It appears that now with 3 rate hikes behind us, this is the ultimate bullish environment, and now the market can focus more closely on buying. Just trying to get a sense of how fast we're headed up. TIA