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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Jack of All Trades who wrote (77527)7/17/2003 12:45:54 PM
From: skinowski  Read Replies (1) | Respond to of 209892
 
SPX 982-84 was a S/R level going back to early June. If the index doesn't snap back soon - yeah, it might be in the process of breaking down. A break under 960-ish would create a lower low in the next larger "scheme of things".



To: Jack of All Trades who wrote (77527)7/17/2003 1:23:50 PM
From: Louis V. Lambrecht  Read Replies (1) | Respond to of 209892
 
I see an M formation, test 970ish (right tine of an inside fork), target 920ish.
Which is 38.2% retrace of the 2002 drop and right tine of a classic fork.
lvlamb.itgo.com



To: Jack of All Trades who wrote (77527)7/17/2003 1:54:31 PM
From: Haim R. Branisteanu  Read Replies (1) | Respond to of 209892
 
how is the current formation looks like to you? all week the market opens higher and then closes lower - to me this is distribution with retail money buying the open


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