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John & Others,
I am for talking about trading and trading tools.
My last SM analysis on 30 minute bars pointed
to 468 OEX as a potential top EVEN on the 3
bar smoothing so what did I do. I bailed out
of my options. Will look again tomorrow at what
transpires overnight.
Clyde
G.John Boggio wrote:
> Realtraders,
>
> Earlier today I posted the below message. It is now 3:15 est and the
> market has now rallied 10 S&P points or 93 Dow points and is now hitting
> the below mentioned downward trendline. On my 15 min charts, I am
> 'beginning' to get some negative divergent sell signals suggesting a very
> short-term pullback is possible in the next several hours.
>
> Further, based on my symmetry wave method of analysis, our pullback could
> measure approximately 8.70 S&P points +/- 1.75 pts or a pullback of 6.95 -
> 10.45 points from "todays" high which is 978.63 (so far). However, if we
> move marginally higher than this level, just use that new high as your top
> and recalculate the projected symmetrical decline.
>
> Finally, on the 15 min futures chart, I see a smaller symmetrical wave
> structure which measures approx 700 basis points so we should also pay
> attention to this magnitude as well.
>
> Hope this helps
> John Boggio
> PS. BTW, this MOTW (Market of the Week) stuff was created so that we can
> get GREATER participation from our members. So far, there have only been a
> few responses...what's the deal??? Would everyone rather talk about
> Clinton and someone else's system or should we discuss TRADING AND
> TECHNICAL ANALYSIS!!! In my opinion, the primary reason why this forum was
> created.
>
> Let's get back on track!!! Do others agree???
>
> At 09:33 PM 1/28/98 -0500, G.John Boggio wrote:
> >Realtraders,
> >
> > Last week we began discussing the S&P 500 as part of the "Market of the
> >Week" feature on Realtraders. I apologize for not starting off this week
> >with a new security but I guess it is not too late to begin another topic
> >of discussion regarding the S&P. The reason why I chose to revisit this
> >market is because it is becoming increasingly interesting to follow....We
> >may be on the verge of a breakout to the upside.
> >
> > Attached is a 60 minute chart of the Cash index and what I would like to
> >point out is that we are just below the blue downward sloping trendline
> >that connects the previous highs since December. This trendline has
> >provided significant resistance to this market and if we can get above it,
> >it should begin the first leg of a continued rally back to the old highs in
> >this market.
> >
> > Obviously, if this market can DECISIVELY exceed it old highs, it would
> >portend a strong rally in the US and possibly world markets that could last
> >several months. At this point, it is too soon to tell but I thought I
> >would give you my findings at this time and that over the next few days, we
> >should pay particular attention to this downward sloping trendline.
> >
> >Other opinions are encouraged,
> > John Boggio
> >
> >
> >
> >
> >Attachment Converted: "c:\eudora\attach\motw0128.gif"
> >
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> 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.
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Clyde Lee Chairman/CEO (Home of SwingMacine)
SYTECH Corporation email: <clydelee@xxxxxxx>
7910 Westglen, Suite 105 Work: (713) 783-9540
Houston, TX 77063 Fax: (713) 783-1092
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