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Earl Adamy wrote:
>
> Looking at attached weekly chart of s&p futures, we have a very powerful
> base formation in place with the market currently moving within range of
> consolidation. The projection from this formation is another 270+- points to
> upside.
If so, this would put the S&P very close to the top of the trend channel
in the Very Long Term
Chart which goes back to before 1929 which was posted here a while back.
While anything can happen, this chart does not give the appearance
> of a market ready to tank and I won't give it much consideration until the
> 1210 weekly pivot low is breached on strong momentum and even then I'd be
> inclined to keep a wary eye out for a sharp upside reversal.
>
> Earl
>
> -----Original Message-----
> From: Peter G <ktata@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Sunday, February 07, 1999 6:38 PM
> Subject: Re: S&P
>
> >I have a very simple view of these things, but I would be very surprised if
> >we do NOT get new highs, even though I believe the market and economy are
> >very ill. To sell short on a position basis, I will have to see the action
> >confirm.
> >
> >
> >PG
> >
>
> ---------------------------------------------------------------
>
> Name: SPWEEK.gif
> Part 1.2 Type: GIF Image (image/gif)
> Encoding: base64
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