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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (31923)	6/19/2000 9:19:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 50167

Morning Ike i have major resistance at 1481 SPX, and downside support first at 1455 then at 1445...i think both will hold... we could see a bit more selling early this week and then buying into the FOMC as per usual... watching and waiting...tight chart patterns on stocks and indexs,... regards OJ

To: IQBAL LATIF who wrote (31923)	6/19/2000 5:46:00 PM
From: IQBAL LATIF	Respond to of 50167

Once that resistance of 1492 was out on the sept contract we never really looked back, we closed above that 1500 level and expect that 1515 should be taken out now, the most important factor was the <<Message #31923 from IQBAL LATIF at Jun 19, 2000 8:41 AM ET In my opinion if the near resistance of 1492 is taken out we will see 1514 area very soon, on cash the support is 1442 or sept contract would be 1465, this can be tested but I would think that Comp is trying to go higher from here, financials were hit strongly but 745 area should hold, if that holdswhich I expect I would like WFC AXP and CMB even GS for test of 830 again.. I will like to bail out if break of 1442 on cash is confirmed otherwise I think the market moves higher from here as far as tech laden Comp is concerned, SOX has done well and I expect that as far as we don't get hit with some bad numbers on economic front that may signal some real slowing down we may see LSI LRCX doing well. IIX and DOT are working their base nicely and 25 days MA the i-timer for Cobot is slowly moving up I would think that market will soon react to this i-timer, on the whole I would stick myself like 1382 support bounce with S&P and expect that this ranges will soon be broken on the upside if 1442 is respected....>> It was IIX and PSE SOX and DOT that are fueling this rally,the 25 days timer that I have been highlighting is definitely turning around and it looks like that lot of new buys will bid the market higher..NDX and Comp convergence is a very interesting phenomenon..It is core NDX stocks that are solidly bid the broader buying even in new tech has not yet come in, thati s indicated by DOt lagging below 200 days MA whereas IIX has taken out the 200 days MA, the timer has definitely started moving up, a second close here and we can see 4200 towards the end of the week on Comp, NDX will follow to 4090.. the rally should get little bit more distributed and NDX Comp divergence should go to the 100 points difference..