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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 (18794)	3/18/1999 1:14:00 PM
From: Chip McVickar	Read Replies (2) \| Respond to of 44573

Jerry, When the market broke 10,001.78 it fell back substantially enough to create a new fork and an upper tine. This suggests that the SPX market will retrace to about 1260±....before making another run. However....in this runup from 1216, the SPX has been running along a Midline off 2/19 Low for 10 days with 3 jumps to new highs only to return creating a lot of tension. Each one of those pops and declines to the midline were potentially new forks showing downside midlines. This 2/19 midline is today at 1304± If it breaks this Number 1304± look for a fast trip to 1260 Watch 2:00-2:30-3:00 for 11d and 18d T-P's and see what happens. BTW...all the internals point for continued upside strength Trin in the 50's adv are stronge in both NYSE and Nasd All the bears have distinct reasons...cycles, SCY indicators, Astro, etc Gz grew cautious when new highs were not aggressively made yesterday and today and when he saw Globex numbers this morning... Also his A/D summation numbers are at a vulnerable position and on the cusp of going Positive. I have to like the UPSIDE But I'm ready to be short if 1300 its NAILED and taken out. Chip