MKT: cash SP500 FIB

[RL2946@xxxxxxx]

     RealTraders,

     Basis the cash SP500, 1088.49 is a 61.8% retracement of the down swing
from the
7-20-98 top to the 10-8-98 bottom.  At least short term, this has indicated to
be effective resistance for the present bull move.  This price may not be the
top of this move, but is worthy of consideration.
     If we take the amount of time taken from the mini-top of 9-24-98 to the
bottom of
10-8-98, and project forward, we find equality at 10-22-98.  Also, a measure
of the time taken in the upmove from 9-1-98 to the 9-24-98 pivot, projected
forward in time from the
10-8-98 bottom, shows 10-22-98 at 61.8% of the move in time.  Both are
indicative of a top forming in this time frame.  
     Perhaps your indicators are reaching an overbot area, and the critter is
flirting with a
standard deviation band.  If recollection serves me correctly, Stig presented
a case,
(albeit for fun), weeks ago of Astrological reasons to be on guard for the
initiation of a
downmove in this time period.

     Just grist for the thought mill, not a trade recommendation.  

     p.s.  Great call Jim White made for the DJIA turning 10-1/2, the close of
10-1 was
             never breached on a closing basis.
 
             Best wishes,

             Rory Lewellen                                     RL2946@xxxxxxx