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In a message dated 97-07-29 02:04:19 EDT, jcomeau@xxxxxxxxxxxxxx (JEAN
COMEAU) writes:
<< Subj: MKT: Market TOP...
Date: 97-07-29 02:04:19 EDT
From: jcomeau@xxxxxxxxxxxxxx (JEAN COMEAU)
Sender: owner-realtraders@xxxxxxxxxxxxxx
Reply-to: jcomeau@xxxxxxxxxxxxxx
To: realtraders@xxxxxxxxxxxxxx (RealTraders Discussion Group)
Our studies show that we have reached a top on the S&P 500 Futures friday
July 25th.
We believe that this top will not be violated for at least WEEKS and could
even be of much more significance... We will define it more precisely as
time goes by...
The results of this study were obtained and are based on W.D. GANN theories,
Elliott wave principles and Fibonnacci applications.
We hope that this could help your way of trading the market in the weeks
ahead.
Sincerely,
Jean Comeau http://www.cgocable.ca/trader
e-mail: jcomeau@xxxxxxxxxxxxxx
>>
HMmmmmmmmm one of the largest traders in te S&P 500 uses this Gnn stuff and
he is long TONS of put options and I mean TONS!!!!!! He was trying to sell
200 lots today, but he was wrong for the day. There is a divergence on the
RSI and the spooz. We have been going sideways for about a week or so. But
somebody came in today and bought about 500 or so at 939 area and that halted
our retreat. 940 is getting to be a big area to close above. We failed new
highs today, but friday will tell the story. If the report is good, we will
make new highs.Market profile called the Spooz very well today. The bonds are
very, overly strong. If the report is real bad, goodbye market............ I
think we will make new highs though. There are a couple head and shoulders
bottoms on the 60 minute chart. THe report on friday will tell where we go on
the short term.
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