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Assuming we take out the June contract high at 1372.50 (and it looks like we
will), I have Fibonacci projections to 1450 area and if we pass that,
to1570. Interestingly the 1570-1600 area is the upper boundary of the
monthly log scale S&P I've posted here which has upper channel line drawn
from the 1929 pivot high.
Earl
-----Original Message-----
From: Proffittak@xxxxxxx <Proffittak@xxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, April 22, 1999 6:45 AM
Subject: Re: Option Sentiment
>In a message dated 4/22/99 2:23:19 AM Eastern Daylight Time,
>BobRABCDEF@xxxxxxx writes:
>
><< The confusing
> situation now is the C/P ratio is way ahead of the SMI. Will be
interesting
> to see how the C/P, OEX and SMI play out over the next few days.
>
> BobR >>
>good morning
>the short term overbught the we are in will result SOME pull back
>but end of the month WILL be THE yearly top.
>we will close 10777 on dow and we will close 1358 on sp cash 4/28-5/03/99
>not a trading rec
>just my view
>Ben
>
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