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> What is your support line or target for the S&P500?
Views haven't changed since my last 20000108-mail on this subject.
The accelarator that came with the Oct99-Jan00 UpTrend got sand in its engine.
A for the moment and for VST 'sideways' (see SMA50 moving horizontaly, not shown
in GIF) to possibly a further falling corrective period (see attached GIF) is taking
place, and only a good solid return above 1420 will give also a more solid BUY signal,
eg a resume of the UpTrend.
-the (bullish) Triangle(Rising Wedge) got downbroken
-attempts to return(eg minor pull backs) have (so far) all failed
-the 1/8 Fractal Retracement's 12,5%{1st minor stop on way down} level @ 1408.70
did not hold and is now strong Resistance
-the spychologicaly rounded 1400 level did not hold {and is now strong Resitance}
-so far the last low was stopped @ 1350, a retest is inevatible, and when done, since
Price will hip-hop, will form a new Diamond
-a now new small Diamond's fallout (the GIF wrongly mentions still a "breakout")
calculated support is @ 1345
-another plain rising Trend Support Line support and the slightly older+larger
Diamond breakout support is @ 1340 {this and or 1323 must hold for a fast resume
of the UpTrend, since both levels are formewr breakouts}
-the 1/4 Fractal Retracement's 25% support @ 1339.30 {=quite common to retrace
to this level first, as though Price is looking for Market(read: investors support) Support
and Price will settle here for a short while, than attempts to return to
the 1/8 Fractal Retracement's 12,5% formal support/now resitance, and if it will not find
investors intrest(read: acceptable 'buying' volumes) will plummet to
the 1/3 Fractal Retracement's 33,3% 'new' support level}
-RSI indicating a return to former Triangle(Falling Wedge) breakout @ 1323
-RSI is {for the moment} solidly on the negative side of things (eg nearly constant below 50)
-a Horizontal last (VST uptrend's momentum) Support @ 1300
-the 1/3 Fractal Retracement 33.3% support @ 1293.10 {this will hold}
-and @ 1280 a not so promissing (for a resume of uptrend) last resort Support
-next, and this is assuming only, @ 1250 there is the VLT rising support line(not visable in
this GIF, so see Jan 8th GIF).
> We're short but are waiting for a buy signal.
If all is right, you will get a signal 4-7 days prior to my system, right ?
Regards,
Ton Maas
ms-irb@xxxxxxxxxxxxxxxx
Dismiss the ".nospam" bit (including the dot) when replying.
Homepage http://home.planet.nl/~anthmaas
----- Original Message -----
From: Guy Tann <grt@xxxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: zaterdag 12 februari 2000 10:03
Subject: RE: Diamantiferous
Hi Ton
What is your support line or target for the S&P500? We're short but are waiting for a buy signal.
Thanks
Guy
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