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Strategies & Market Trends : Ask DrBob -- Ignore unavailable to you. Want to Upgrade?

To: shoreco who wrote (58843)	5/7/2002 9:41:49 AM
From: stan_hughes	Respond to of 100058

Shoreco - No doubt about it, 1050ish looks to be a very important nexus for the SPX. The more roads that lead here, the more important the value. My purpose in using a monthly chart was to try to filter out any false breaks that might appear on the dailies or even the weeklies. SPX has skated next to the edge and gotten away with it before, so I'm still not totally convinced yet, although I remain fundamentally and technically bearish short term. OTOH I am mindful of the Treasury's increasingly less-than-veiled presence in the markets, and IMO this represents a big risk to large short positions (as it is no doubt intended to be). The PPT could, and probably will, intervene at a crucial point, even if just to buy time. After looking at the long term trend lines, if the PPT is going to defend a number, one would have to think the current area is going to be it. Should be volatile no matter which way it goes - trade well and don't spill any