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Diamond for the SP500 (SP500-0827.gif)
Now an Update on the above
(SP500-1002.gif)
Too late realised to put the Shorter Term Fractal Retracements
on the Chart, for as the SP500 also nearly reached(!) its 100% retracement
level (1215) (measured from the Low since early this year, eg that was also
the Low of 1/2 way the uptrend since last Oct98, eg and prior to breaking
out of its ST-continuation stop).
See also the Estx50-gif and the Dow-gif this week-end
(all 3 have the same Subject :).
Consensus is that Greenspan(FED, +0.25) and Duisenberg(ECB, +0.5)
will raise the intrest-rates, enough to fuel-tricker the 'technicals' this month.
RSI readings are not signaling an 'oversold'-market (for the Dow there
is some possitive divergence) but a plain weak ST bearish-markets for the
stocks&bonds worlwide, of which the first will get the largest share to
digest as yet, and with the latter stumbling on some "very thin strong" support.
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying and
note the new address change. Also for my Homepage
http://home.planet.nl/~anthmaas
Attachment Converted: "c:\eudora\attach\SP500-1002.gif"
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