|
PureBytes Links
Trading Reference Links
|
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"
>
>RealTrader's HomePage
>http://www.RealTraders.com
>****************************************************
>Moderator: John Boggio boggio@xxxxxxxxx
>Director: Eddie Kwong eddiekwong@xxxxxxxxxxxxxxx
>Editor, Best of Realtraders: Scot Billington
>scot.billington@xxxxxxxxxxxxx
>Best Of...Website: http://www.realtraders.com/bestof_frm.htm
>*****************************************************
>To UNSUBSCRIBE from RealTraders: Send an email to:
> listproc@xxxxxxxxxxxxxx
>In the SUBJECT box type: Realtraders
>The first line in the body of the message should say:
>"unsubscribe realtraders" (without the quotes). Please do not
>unsubscribe for vacations, recommendation:switch to Digest Format
>during those periods. Thanks (See below)
>*****************************************************
>RealTraders is sponsored by Kasanjian Reasearch
>Contact us at eddiekwong@xxxxxxxxxxxxxxx or 909-337-0816
>*****************************************************
>For DIGEST FORMAT send message To: listproc@xxxxxxxxxxxxxx
>In the Subject box type: Realtraders Digest
>'Body' - To turn ON digest, type: set realtraders mail digest
> or
>'Body' - To turn OFF digest type: set realtraders mail ack
>*****************************************************
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.
|