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


To: ViperChick Secret Agent 006.9 who wrote (29859)12/2/1997 8:33:00 AM
From: Kevin  Read Replies (1) | Respond to of 58727
 
Good morning everyone. Today's data:

SPX:
1007.05
987.68
981.23
piv:968.31
961.86
948.94
929.57

Break: 964.75

The dirst extra resistance, like I displayed yesterday, is 984.79
Will this become a factor today? I don't know. Like I've said in many previous posts, I am always trying to fine tune my system and make it work better. Not just this system, all of them. Nancy asked me in email if I still use intraday MACD with my index trading system (I used to post comments about that when first developing the system), and I said no. After more and mroe research, I felt that the MACD told you what would happen AFTER it happened. This is no good since after the index drops below a support, I do not need a signal to tell me that already happened. I also used to post the levels for the bond futures. Again, after further research, these points did not seem to be a strong factor. Same type of research is being applied to that extra resistance: 984.79 Will it actually cause the index to stall at that level IF we get to that level? I'm not sure. Past research has indicated that when the extra data is close to my original points (such as it was yesterday), we actually have a resistance that is more of a range than a single point.

I'm just trying to provide as much info as possible that will help indicate how the index will move. During the big market slide, I posted the 200 DMA for the SPX as an extra point to watch.
The 200 DMA is not of any use today....so I don't post it. But IMO, it was a very key level during that big drop.

SPZ7:
1013.07
993.07
986.33
pivot:973.07
966.33
953.07
933.07

Break:968.63

Extra res:990.77

I posted these extra resistance levels today to try to illustrate one more time what I attempted to do yesterday. Hopefully this helped.

Kevin