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I always enjoy(ed) these little snipits from the EWT over the years.
This one dawns on me...
July 1998 SnP futures
7/17 Fri +2.7
7/20 -2.0
7/21 -21.10
7/22 -9.00
7/23 -24.50
7/24 Fri -3.0
7/27 +5.8
7/28 -17.9
7/29 -6.1
7/30 +17.0
7/31 -23.2
8/1 Fri -5.6
8/4 -44.3
8/5 +14.5
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Total -116.7 in 14 trading days (avg. -8.4/day)
Then the mkt traded sideways for 16 trading days...
Fireworks begin...
8/26 -7.7
8/27 -51.8
8/28 Fri -5.0
8/31 -77.0
9/1 +45.5
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Total -96.0 in 5 trading days (avg. -19.2/day)
The above with the SnP at ~ 1100
April 1999 SnP at ~1300 with a war brewing....
4/12 Mon +13.8
4/13 -9.7
4/14 -23.0
4/15 -7.3
4/16 Fri ?
Interesting.. the Dow has made new records the
past three days and the SnP has gone down each
day totaling ~ -40 points. If the Dow has a
down day or two Friday and/or Monday will the
SnP be Up? Doubt it :) I think the Dow will
be down tomorrow (expiration??) and down huge
next week.
We shall see...
Regards,
Gary
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