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Good Morning RTs -
Yesterday was the 3rd trading day following a full moon... and the market moved down. This move up has run 22 trading days and its time for a reversal. If the close today on the cash SPX is less than 1121 will take a short positon with a stop of 1138 and a downside target in the range of a close 1020-1060 .
Steve
>>> Steve Walker <Steve@xxxxxxxxxxxx> 11/05 4:24 PM >>>
Follow up... yet another new 3-day high. My short was not triggered. Short
term oscillator is very over bot. Friday is the second day following the full
moon. Will keep waiting.
> RTs -
>
> Follow up.... Downside SPX cash target area is 1020-1050. SPX fututres
are off 6.00 as I write this. Will go short on the close if below 1105. Stop at
1115. Acceptable risk/reward of approx 3:1.
> If downside move develops and performs as targeted, this will confirm a
change in trend from bear to bull.
>
> Steve
>
> >>> Steve Walker <Steve@xxxxxxxxxxxx> 11/04/98 04:15PM >>>
> RT's
>
> I have been looking for a top in the 1128 SPX area. I arrived at this by
> taking the July top of 1191 less the August low of 939 or 252 points * 75%
for
> 189 points. Add this to the August low of 939 to get 1128 on the SPX.
> Today the cash SPX made a high of 1127.18 before closing lower on the
> day. Today is Nov 4, which is a full moon and much has been written in
this
> forum of the market declines which often accompany a full moon.
> Additionally, Gann wrote that there is often a CIT in early November during
> election years. I will be watching my short term indicators to initiate a short
> position. I have not calculated my target low based on today's price action
> however using yesterday's I get a downside target of 1015-1050 using
Gann
> Angles and 1030-1055 using an Andrews calculation.
>
> Steve
>
!
!
!
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