Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jerry Olson who wrote (21602)	4/22/1999 12:15:00 PM
From: SE	Read Replies (2) \| Respond to of 44573

OJ, I have the upper tine of a short term fork at 1361 SPOO. I have the lower tine of a longer term fork using the Oct low at 1351 SPX. I have the upper tine of a longer term fork using the OCT low at 1361 SPX. I have what I am considering to be the mother of all resistance at 1376 SPX and rising slightly. That fork is the OCT 97 low bisecting the July 98 High and the OCT 98 low. In short, I think the upside is about finished. We may have one or two more dramatic days, but this thing is numbered. I suspect if we hit 1375 SPX that we will then correct to, well, you don't want to know....So there is the long and short of it. I think this thing is cooked. Serve em up. Now I realize that such a read is in dramatic opposition to the GZ factor and the P&F read....but hey, what can I say. That is what it looks like to me. We blow through 1375 SPX, and I will change my mind. Shorter term, this is still an up market....the momentum has not yet changed, but I think it would be wise to start thinking about lightening up. We have some upside room, but for today, at least so far, it appears capped at 1360. -scott PS - Bonds are goosed......not sure where they are going yet, but sheesh....two longs, two spankings, two days. Ack.