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Mak,
I realize the 200 MA(simple) is at 1272 and the day trading tech books tell
you to buy when the stock or index hits the 200 ma because it will bounce up.
For me this is a good way to lose good money, if your not scalping. But
looking into the short term future, Greenspan, companies not making earnings,
internet stocks dropping, slow sales overseas, are starting to create a little
fear and unknown ( of where the market will go) IMO.
What I tried to do was determine if a major change in trend may occur. By
looking at the monthly,weekly, and daily. If the SPX was going to bounce up
it would have done so already. RTQ is 1275.97, the end of the day will tell
us more.
I can be totally wrong..
Here is a chart of the SPX 50 and 200 ma simple.
TradeWell,
Joe Frabosilio
mak wrote:
> And the 200-day MA at 1272! .......
>
> ----- Original Message -----
> From: Joe Frabosilio <joe6964@xxxxxxxx>
> To: <realtraders@xxxxxxxxxxxx>
> Sent: Tuesday, 10 August 1999 11:13 AM
> Subject: MKT: SPX
>
> >
> > Sorry I didn't post any charts, it would be a little too big. In
> > looking at the SPX, the monthly, weekly, and daily charts say basically
> > the same thing. My take is if the SPX were to break below 1275 this may
> > start a new trend (down). The next support would be ~1225.
> >
> > Below that, all I can do is plot out Time and Price lines. Does anyone
> > have a different way to see if the trend is about to change?
> >
> > TradeWell,
> > Joe Frabosilio
> >
> >
> >
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