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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (27230)10/28/1997 2:20:00 PM
From: donald sew  Respond to of 58727
 
Hi Tom,

I heard, on several occassions, the comment of the the summer lows as a possible bottom based on psychological reasons, which to me is subjective and not based on an analytical analysis. I am not saying that it is not valid, just that I try to eliminate subjective analysis from my system.

From a quick study, here are the following resistances on the SPX, but they need to be rechecked and analyzed further:

895-899
916-919
931-939

I still believe that there will be a return near the lows (7000-7100) prior to a solid run up. It is very common of a TECHNICAL DELAYED DIP(double bottom) after a strong pull-back, although I am starting to doubt it with today's performance.

Seeya



To: Tom Trader who wrote (27230)10/28/1997 2:58:00 PM
From: donald sew  Read Replies (1) | Respond to of 58727
 
Tom,

If the market closes today at its high, there are some intraday/short-term technicals signals indicating an intraday pullback tomorrow with the market opening up at the open.

I am starting to doubt my previous prediction that the market will retrace to the 7000-7100, unless Greenspan says something negative.

Seeya


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