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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (207)	2/16/2000 8:47:00 AM
From: Logain Ablar	Read Replies (2) \| Respond to of 30051

Zeev: This is from Bernie Schaefer, I'll copy as best I can but the charts are not here. Bullish Omens For The S&P 100 Index (OEX) 2/14/2000 10:02:55 AM The S&P 100 Index (OEX - 754.05) has just completed an inverse head-and-shoulder formation, a technical development that can have bullish implications. The shoulders have formed near the 750 area (see blue line on chart below), which is also the home of over 7,000 put contracts that could provide a measure of options-related support for the index. This bullish formation has occurred just as the CBOE Volatility Index (VIX - 26.63) hit a high of 28.93 on Friday. Since August, the 30 area has often served as a peak for the VIX. Declines from peaks in the VIX are often coincidental with market rallies. Congrats to you and Steve on great trading in the Rambull. Tim