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Strategies & Market Trends : Market Trend Analysis from MomentuMonkey -- Ignore unavailable to you. Want to Upgrade?

To: Stcgg who wrote (71)	7/24/2000 9:54:36 PM
From: Stcgg	Read Replies (1) \| Respond to of 281

BEAR MARKET UPDATE - The S&P broke below support at 1488, indicating the index is on it's way to lower lows than last Spring's 1370.. The Naz broke below it's trendline support and is also on it's way to lower lows than last Spring's 3043.. The Dow has very strong resistance at 10940-11000, with a cluster of support at 10500-10600.. If the index breaks below 10336, look for lower lows than last Spring's 9732.. The probability would be in favor of a Dow breakdown, following the other 2 indices.. August is typically a weak month for the market - Look for Short/Put positions on any bounces going into July month-end window dressing.. The next fibonacci turn date is July 30th +/- 1 day.. For more in-depth analysis and education pertaining to Elliott Wave Theory, visit their web-site at: elliottwave.com >><<