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Hi John,
You may be right about support holding at the 710 level, but I shure
wouldn't go long yet.
Good luck and good trading,
Ray Raffurty
----- Original Message -----
From: G.John Boggio <boggio@xxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxx>; <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, July 20, 1999 2:52 PM
Subject: RT_MKT - Market finding support.
> Realtraders,
>
> Attached is a 15 min chart of the OEX. My short term work is indicating
> that we are fast approaching a support zone in the market. This analysis
> is based on symmetry wave of previous declines (see parallel white lines
on
> chart), as well as Fibonacci support in the 710 area. Finally, take a
look
> at the 14 period RSI, it too is looking for a temporary bottom from these
> levels.
>
> Going forward, look for a bounce over the next few hours. I expect
> resistance between 716 - 719 followed by another retest of the 710 level.
> This retest very well could fail but should be contained with a SHORT-TERM
> worst case scenario of approximately the 690-700 level on the OEX.
>
> Food for thought,
> John Boggio
> PS Please note, this is a short term analysis and should be valued
> accordingly. This is not a trading recommendation
>
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>
Attachment Converted: "c:\eudora\attach\oex (2).lnk"
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