[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

S&P/Nasdaq Pivots and Oscillators for 8/31/99



PureBytes Links

Trading Reference Links

Recap. of 8/30/99-Sell Pivots for Nasdaq and S&P were hit with 
reasonable profit potential.

Pivot Point Buy for S&P = 1345.5; Sell = 1315.1

Pivot Point Buy for Nasdaq = 2409; Sell = 2351

The difference between the 5 day and 3 day oscillator is bearish for 
both the S&P and Nasdaq.The 5 day oscillators are neutral.This 
indicates to me either a rebound day or more to the downside.

I would decide based upon the pivot strike.The pivots in this case 
have less credibility as prior due to the range of 8/30/99 being so 
wide.That would also build a case for a choppy no trade day because of 
the chance the pivots are not struck.The sell pivots are closer to 
being struck than the buy pivots.


The CME charting site continues to read most of its indicaters as 
"EXTREMELY BULLISH" although hinting a reversal which to the site 
means down.

If 8/31/99 opens strongly to the upside above Mon. close then I would 
expect the buy pivots to be hit.If it opens strongly below Mon. close 
it could continue to  be a sharp drop.I personally would only enter on 
a strong move one way or another rather than a lackadaisical one.

As always it could go either way but some barometers help.

John