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If 893 is broken, we are on the way down maybe to 825 for a start. If it
heads up soon past 941, it could start a short term Wave pattern back to
old highs by late DEC to mid Jan. But I would bet on it reaching that far.
Who really knows? Indices have an effect on stocks but some run counter to
market. I think stress of analysis should be placed on stocks owned, I
suppose I am at 20% invested after being 100% cash at 24 oct. Not a great
call but rather going on a cruise and went to cash. Buy and holders will
lose some money in this move. "Quality" (whatever that is) stocks will be
hurt more than the midcaps. RUT might break 500.
Richard Estes
-----Original Message-----
From: DanMartinz@xxxxxxx To: metastock-list@xxxxxxxxx
Date: Tuesday, November 11, 1997 11:02 PM
Subject: Re: Something is fixing to happen
>I downloaded your GIF and noticed the S&P was below support levels. Could
>you elaborate on your opinion?
>
>Daniel L. Martinez
>
>
>
>In a message dated 97-11-11 14:53:34 EST, restes@xxxxxxxxx writes:
>
><< File: spx.GIF (55082 bytes)
> DL Time (28800 bps): < 1 minute
>
> SP-500
> Richard Estes >>
>
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