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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Monty Lenard who wrote (23991)8/11/1998 10:08:00 PM
From: James F. Hopkins  Read Replies (1) | Respond to of 94695
 
HI Monty; Thanx a lot for the scan! it's not as bad as I expected !
It's not good, but note the 4th and 5th where the lows were,
None of them today set new, or ( lower lows ) than the 4th -5th,
They might tomorrow, but if they don't this could be the double
bottom. It sort of makes the 4th-5th lows now an important,
support level, only the T50 of the 600 hit that low, but none
of them broke it.
I think a lot will be hanging on what Tomorrow brings , and if
today can or will be reguarded a higher low or not.
Man this is a kickass "depth recorder" <G>
Jim




To: Monty Lenard who wrote (23991)8/12/1998 12:52:00 AM
From: Bull RidaH  Read Replies (1) | Respond to of 94695
 
Monty,

What I see is improvement in all the indices % above 20 day MA compared to last Wednesday, but the indices made lower lows yesterday. That smacks of a bullish divergence IF prices improve from here. If we see a positive close above today's close, it could be a sign of a short term reversal, and move toward the 1125 area SPX. If no improved close, then sleeping will be no problem for the bears, and impossible for the bulls.

Regards,

David


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