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S&P/Nasdaq Pivots and Oscillators for 8/30/99



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Recap. of 8/27/99-Sell Pivots for Nasdaq and S&P were hit with 
reasonable profit potential.

Pivot Point Buy for S&P = 1364.2; Sell = 1344.8

Pivot Point Sell for Nasdaq = 2433; Sell = 2390

The difference between the 5 day and 3 day oscillators are bearish for 
both the S&P and Nasdaq.The 5 day oscillators are slightly bullish but 
rate of increase has declined.

A Realtrader forecast by Goldstein for the S&P calculates a target for 
the S&P at  1129.8 level in October.

An attempt to use that methodology for Nasdaq estimates a target of 
1924 to 1774 in October to the end of year.In its most recent attempt 
the index failed to exceed the 2490 top.

All that being said the CME charting site continues to read most of 
its indicaters as "EXTREMELY BULLISH".

If 8/30/99 opens strongly to the upside above Fri. close then I would 
expect the buy pivots to be hit.If it opens strongly below Fri. close 
it could be a sharp drop.

As always it could go either way.

John