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Strategies & Market Trends : Trading the SPOOs with Patrick Slevin! -- Ignore unavailable to you. Want to Upgrade?

To: Patrick Slevin who wrote (3501)	2/10/2000 8:28:00 AM
From: SE	Read Replies (2) \| Respond to of 7434

This was interesting.... -------------------- TECHNICALS Mar S&P 500 futures' daily and weekly trends are up, but (long-term) weekly momentum has been down since Jan 24 and will remain so below resistance near 1458.60 this week. The market tested and failed at this resistance Wednesday, setting an intraday high of 1454.80 before reversing sharply and closing near session lows. Bearish weekly momentum means that the market is currently in a corrective phase that will remain in effect this week unless 1458.60 is appreciably breached to the upside. A rally above 1496.50 would be necessary to confirm the end of this corrective phase and the resumption of the uptrend. Topping and declining daily oscillator studies and low implied volatility indicate favorable conditions for the market to continue lower for the next 1 to several sessions. However, a decline below 1344.60, the current location of the major uptrend line drawn from the 970.00 October 1998 low, would be necessary to turn the daily trend from up to neutral. ----------------------- Snipped from: crbindex.com Then click on reviews and go to equity markets......