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This market is confirming on all cylinders and confirming initial target of
1310 posted last week - this is the pivot low plus .618 of thrust on daily.
I have two probable targets for the full run to a possible bull top: 1502
based on cup and handle formation and 1572 based on 1.618 fib projection.
This also ties with the historical channel work I've posted here indicating
a channel top extending from 1929 at approximately 1600.
Earl
-----Original Message-----
From: Proffittak@xxxxxxx <Proffittak@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, January 07, 1999 5:36 AM
Subject: Re: Markets
>In a message dated 1/6/99 10:41:06 PM Eastern Standard Time,
>nwinski@xxxxxxxxxxxxxxx writes:
>
><< so a sharp move up to the SPX 1356 level into the Jan. 15 weekend would
be
> the next time and price
> to consider a short term high for SPX. If it doesn't come out that way,
> then I was wrong about the current tune (ala name that tune) and so I
> wouldn't bet any money. If the pattern does develop per my
> above projection, and the option sentiment at that time is excessively
> bullish, then you can sell against 1356 and only risk about 1% of the
> underlying value i.e. about $14 for a chance to make 100 - 150 SPX
dollars.
>
> Musically,
>
> Norman >>
>good morning
>adv dec is not confirmiming your prediction
>McClullen is only at +131
>volume is not confirming this move
>and new hi are only 153 compare to 350-500 in july
>short term a 50 point sp down to a nya of 587.93 then new hi@xxxxx sp
>points above yeasterday close date3/20/99or 02/07/99
>then major low with 90% probability of yearly low between
04/07/99-05/14/99
>price lower then oct 8 1998 low
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