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It looks to me like it may be time to go long. Rationale and chart at my
web site.
Ned Markson
http://www.erols.com/cnedgo
RAY RAFFURTY wrote:
>
> 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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>
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