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To: Jerry Olson who wrote (10245)	12/14/1998 1:33:00 PM
From: Tom Trader	Respond to of 44573

I agree that Frank's reads are very helpful If you are nimble, you can play the bounce on the long side -- I am not quick enough to do it. I think that Iqbal some time back said that he was looking for 1135 -- though this may have been on the SPZ. You may want to check with him as to where he sees major support. But with the impeachment vote hanging out there support levels could be blown away in a heart beat

To: Jerry Olson who wrote (10245)	12/14/1998 1:57:00 PM
From: nicewatch	Read Replies (1) \| Respond to of 44573

OJ, I just looked at the SPX. FWIW, you might want to look at the really confusing SPX fork chart. The bottom tine of the mildly upsloped fork is at 1147.50 for today (increasing almost 2pts/day)... the low so far is a couple of points below that. If that low holds, I would consider it another successful test of that fork. I don't know what kind of rally, if any, to expect, but price seems to have reacted around it. I can't give a good read on the very short term as I don't have decent intraday stuff, but I'm sure others here could give their 2 cents since that is their forte. FWIW, talk to you later Regards, Frank