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It is going to be crirtical to watch today and tomorrow to see how this
market reacts to the new highs. I'll be watching the breadth of the market
on an hourly basis to see we are making lower peaks against higher prices.
I'll also be keeping an eye on the tick readings and the moving averages I
keep of those. Basically, I'm trying to get a read from the market
internals to see if this move is going to be confirmed and we go a lot
higher, or if we just run stops and tank again.
Regards,
Tom Alexander
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> From: G.John Boggio <boggio@xxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: MKT S&P 2/2/98
> Date: Sunday, February 01, 1998 8:47 PM
>
> Realtraders,
>
>
> Therefore, in short, I am expecting a pretty good day today. Further,
> based on todays close, I believe today will also determine if we are
going
> to have an explosive breakout of the trading range (flag formation) that
we
> have been in for several months.
>
> Hope this helps, any other thoughts.
> John Boggio
>
>
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