|
PureBytes Links
Trading Reference Links
|
Thank you John
I have the next Time date for the oex on 9/16 based on 20 min data Im
working on the data now .
If you look at a longer dow chart you can see that what we are making is a
BIG Head And sholders top a rough projection from the aug 7 top gives me a
1st support level at around 7200-6900 Dow .
But this level will be exceeded in a selloff the next bottom looks like
6200 ( quick guess-a-met) a nasty drop!
al
At 12:00 AM 9/12/97 -0400, you wrote:
>Realtraders,
>
> For those who may not have noticed, shortly after the market closed today
>(9/11), Motorola MOT announced that 3Q results will be 'significantly'
>below analyst views. From what I can see, MOT is already trading down
>about 8 points in the third market. Further, Lucent Technologies, LU, is
>showing a bid 3 points lower than todays close. This is not a good sign
>for the tech sector, as well as the overall market to begin tomorrows
trading.
>
> Personally, if tomorrow's PPI and Retail sales indicate sustained
>spending, this could adversely affect the bond market, simultaneously
>driving down stock prices. Thus tomorrow could be a very important day as
>an indication for the future direction of these markets over the next few
>weeks.
>
> IMO, if we break down below the recent lows set in the S&P on 8/18 and
>8/29, then, based on my symmetry analysis, we should continue to decline
>in the stock indices approximately a total of 10% +/-2% from the Aug 7th
>all-time highs. This translates into the vicinity of 878 on the S&P CASH.
>The good news is that this level should provide strong support. Hence, a
>strong BUT unsustainable rally should begin. The bad news is that this
>rally should NOT exceed the Aug 7th high. As a matter of fact, this rally
>may merely be a dead cat bounce of approximately 50-63% of the overall
>decline or has the potential of forming a significant DOUBLE TOP formation
>in this stock index.
>
> Subsequently, the decline will resume and we should expect a decline in
>the magnitude of 20.5% +/-4.1% from the all-time high. As it stands now,
>this will be the Aug 7th high.
>
> So, as I said earlier, tomorrow can be a very important day. If we
>convincingly exceed the recent lows, then I suspect the market is in the
>process of forming a major top in which a decline of 20% should be
>expected. If we do not break down tomorrow or Monday, and rally, then
>based on my style of analysis, we will have averted any further declines
>for some time. Hence, we will rally and exceed the Aug.7th high, as we
>continue this phenomenal bull market rally.
>
>Hope this helps to stimulate your analysis,
>John Boggio
>
>PS Several members and gurus have suggested possible dates which may
>provide increased energy in these markets, it may be helpful if you can
>coincide their dates with my projected support and resistant levels to
>achieve maximum results. Some dates to remember are Sept 15-16, Sept 24,
>and Sept 27-29.
>
>PSS For more complete information regarding the 20% symmetrical wave
>structure, please see some of my OLD posts which can be found at the below
>address.
>For recent commentary and more informations regarding SymWave, please go to:
>
>Commentary: http://www.realtraders.com/boggio/disc7_toc.htm
>Info regarding SymWave: http://www.realtraders.com/boggio/boggiobio.htm
>
>Thank you.
>
|