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Strategies & Market Trends : Bonds, Currencies, Commodities and Index Futures -- Ignore unavailable to you. Want to Upgrade?

To: irlon who wrote (271)	11/21/2000 7:36:17 AM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 12411

I think trying to pick an exact number here might be more frustrating than it's worth...<g> I think this is definitely a general level where buying ought to come into the market, despite the election confusions...<g> I also think we'll see a rally as early as today and I think there are a lot of people that won't believe the rally..... that widespread disbelieve will fuel the rally into year's end and beyond..... GZ

To: irlon who wrote (271)	11/21/2000 11:17:16 AM
From: Chip McVickar	Read Replies (2) \| Respond to of 12411

Morning I, Yes, It sure looks like we are wrong....! However, I remain hopeful that a conclusion to these political maneuverings will bring a psychological relief and allow fund managers to commit some of the cash hoards they've been building up and participate in the seasonal moves that usually accompany this period. All any of us know about these markets is implied through the chart bars and volume activities. We all know the FED is at the end of a year long tightening phase that's creating the desired weakness in the economy. We do not know if this will produce a rescission or be countered with another round of growth. So any move up at this time has to be looked at very carefully. The Europeans have been tightening as well, presenting a possible world wide recession. To me the charts as measured here, present a lot of reasons to look for the markets to put in a soft move higher. The DJIA was well into that pattern prior to Florida. I'm not looking for an awesome move. The window I spoke about earlier is still in play and moved positive right on schedule, remains positive and open until 22nd. It is backed up by a Weekly Time projection due on the S&P500. Forks and support lines abound at these price levels and the traders are waiting for a signal to jump in. If it fails, the political parties would be challenging the Florida results and more uncertainty will remain. The weekly charts in all the Indexes, by my indicators, have been in a downward trend since late Sept except the Utilities. DJIA on a weekly basis, must close above 10,600.00, SPX--1420.00, Nasdaq--3600.00 to break that trend and remain above to confirm. So the politician's and the buyers have to prove themselves.