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Just to give my two cents, Using the Fib Time Zone for the SPX, 144 (CIT) is on
Wed, April 28.
Economic Data News:
Thursday- Employment Cost Index
Friday- 1st QTR.growth numbers.
Also, what are the Elliot wave traders calling a top?
TradeWell,
Joe Frabosilio
"Terry S. Smith" wrote:
> -----Original Message-----
> From: swp <swp@xxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Date: Monday, April 26, 1999 6:06 PM
> Subject: Re: Evidence of Short Term Top
>
> >I and everybody else is looking for a top. Momentum indicators often
> >show divergences in strong up trends. I'd be real careful with that. OBV
> >is not particularly useful anywhere.
> >
> >I had thought 21-April or 23-April, but patterns say otherwise. Possible
> >timing count to 6-May pr so, but if SPX (cash S&P 500 index, not the
> >futures) gets to 1400, then there will be more to come.
> >
> >I do see a correction for Tuesday/Wednesday, but only a few percent.
> >After May 6th, could be much worse. Will have to see.
> >
> >Steve Poser
> >--
> >Steven W. Poser, President
> >Poser Global Market Strategies Inc.
> >http://www.poserglobal.com
> >
> >Ross Kovacs wrote:
> >>
> >> Anyone else see these?
> >>
> >> 1. NYSE Member Short Ratio highest it's been in 3 months
> >> 2. CBOE Total Puts/Total Calls ratio lowest in 4 months
> >> 3. Multiple divergences -- New index highs with lower highs in OBV, RSI,
> >> Price ROC
> >>
> >> Ross Kovacs
> >>
> >> rossrk@xxxxxxxxxxxxxx
> >
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