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

To: Jerry Olson who wrote (5775)	10/8/1998 9:34:00 AM
From: donald sew	Respond to of 44573

INDEX UPDATE --------------------- The futures are locked limit down right now before the open. It is obvious that we will head down at the open, but the question is will we see that late day rally, which has occured recently or will this be the leg that breaks 7500-7400 support. In light of my short-term technicals be down so low for the HIGH TECH, TRANS,BKX I feel that if the DOW gets to the 7400-7500 range today, there is still a possibility of a bounce to the upside. If we do get that low and we do bounce, the bounce will not last long (just a few days or intraday). Then the next strong leg to take us below 7400 to occur next week. My MINI-STAIRSTEP to last a few more days.