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The short term top is in, the next critical test is the December 14 pivot
low in the s&p. If this holds, we're likely looking at a complex
consolidation of the cup and handle formed since last July's highs. If the
low does not hold, we will have to form a new bottom which could be at lower
or higher (more probable) levels than the October 8 bottom. For now, the
spoo is sitting on what should be strong support and it could take a couple
of days to get through it.
Earl
-----Original Message-----
From: Proffittak@xxxxxxx <Proffittak@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Wednesday, February 10, 1999 6:40 AM
Subject: Re: Spoo/forecast
>In a message dated 2/10/99 8:18:32 AM Eastern Standard Time, ariel@xxxxxxxx
>writes:
>
><< Good Morning Ben,
> Would appreciate your forecast for the Spoo.
> thanxs Harry Feld
> >>
>good morning
>will be a buyer@xxxxxxxxx
>expecting a 30-50 point rally and then down to 1000-1050
>reason mclullen at -120
>trin oversold
>will be wrong if 1195 taken out today.
>date for lowest low 2/25/99
>this is NOT a trading recommendation
>just my view
>Ben
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