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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (5375)	10/5/1998 12:46:00 PM
From: donald sew	Read Replies (1) \| Respond to of 44573

TOM, >>>>>> My question for you is whether it would have to break 7400 for you to get a class 1 buy--just your best estimate. Am wondering if what we are looking at esp given your momentum read is that perhaps we get to that level and then rebound sharply before resuming the down-trend and breaking that level. <<<<<<<<<, I dont have everything updated, but by eyeballing it, the market should hit a CLASS 1 BUY status before hitting 7400. My guess right now is that the DOW is around 15-20, which is a CLASS 2 BUY. Another down day of only 50 points would make it a CLASS 1, and of course we could see the bounce right from here. This is what is now bothering me - there is a chance that could go straight down from here on the basis of a TECHNICAL BREAKDOWN. Per my short-term technicals, the NAZ, per FRIDAYs stats was still in CLASS BUY status for today, but now is down 90 points. It is very hard to predict a technical breakdown. Please understand that a technical breakdown is different than a price breakdown. Hope I answered yr question. seeya