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Realizing that it has been awhile since I've done any kind of an
analysis on the Standardly Poor 500 market, and again I'll add that I
don't follow nor trade this market so that you can tread my analysis
very carefully, here is my quick assessment.
Two weeks ago I made the statement that a turn should occur on 7/22 in
this market (newslist). So, running Fdates again today, that date is
still holding.
So, under the conditions that this date does in fact materialize as a
turn, these are my expected price supports for this market for that day.
I only include 2 of them since I really don't expect it to be any lower.
This is my opinion, of course.
My first expectation is for prices to find support around the 900-904
area. If extremely violated, this level is 893.
I did some weekly work and cycle work as well, and was unable to verify
this Fdate using them. Both the weekly and cycle work gives indication
of a turn 7 to 10 days later.
Well, let the threads begin!
cheers!
:)
rick
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