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

To: Skywatcher who wrote (34877)	10/26/2000 11:57:24 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Chris-- sometime it is better to ignore the noise, look at this post very closely and you may find that we tested these supportsa little more steeper and came back up, market run through these supports and in my opinion if we respect these long standing supports we may avoid a lot of pain..NDX broke that 950 to reverse at 926 and IIX 397 low was just to clear to look a trap, SPX 1337 all were just good tests and in my opinion this market needss reassurance at these lows to set itself up higher.. the 18th close of 3171 and 19th gap opening of 3330 with a close of 3410 plus was filled in that whipsaw move, again if you look at it a very healthy sign.. <<Keep watching the close of SPX.. 10/12 10/18 and 10/25 1329 low of 1327, 1342 low of 1326 and 1364 with the low of 1362 respectively.. these are all higher lows and if this market needs to go higher these levels are to be respected closing below 1362 on two days basis will certainly lead us to the area of 1329 the old support, I will be carefully monitoring the action today below 1357 for possible inter day defensive play.. expecting a knee jerk reaction to strong ECI.. NWX has a solid support at 950 area so does IIX 406 these two important supports lines need to be watched as lot of market action would depend on these supports..if these are out we will see a retest of 1327 or even 1306 on SPX. so indexes to watch are IIX and NWX..>>