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

To: SE who wrote (20720)	4/11/1999 11:09:00 AM
From: stockycd	Respond to of 44573

SE, I've been pulling my hair out all weekend with respect to the size of any immediate downturn. Have you noticed the rising wedge that has formed on the SPX 60 minute chart. A nice slithering snaking pattern for a week or so. The resolution should come next week. I'm looking at a more short-term fork (on the 60 min charts). The upper tine starts at 3/29 highs and the low fork at the 4/1 lows. The SPX has used this lower tine for a trend and has not broke the middle. A significant break of the lower tine will pull us to at least SPX 1310ish. We shouldn't have a trend reversal unless we are down big (1330) tomorrow, and then manage to stay below tomorrow's lows for at least 2 days. I'll be very interested in what everyone's nets are saying tomorrow night. Later, Chris