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

To: Chip McVickar who wrote (20716)	4/10/1999 7:34:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

Chip, I am having trouble with the SPX right now. However, I do believe the immediate direction is still higher. Possibly 1367 SPX based on FRI's data. The 2/10 low, 3/19 high, and 3/24 low's upper tine is at 1367 and the 3/3 low, 3/19 high and 3/24 low's middle tine is at 1367 for Monday. This is the cross point and occurs at 12:30 pm est. Part of the trouble I have is the 3/24 low fork has the prices following the middle tine. Normally there is a price reaction off of a middle tine and there isn't on this fork. Since there isn't I suspect that maybe we go lower. Further, some Babson lines show the same thing in more detail. Normally there is a reaction off a Babson line, but in this case there wasn't. It either breaks through it going higher or it acts as resistance. If we start down out of the box, this run may be over for now.....but I just don't have a solid read or way to play it other than if we now get to 1367 SPX, it is a sell. The damn numbers keep going higher every day....don't they? :) -Scott PS - OJ, don't you worry none. Our short will be golden, you hear?...