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I've got a confluence of resistance at 1414 on Friday basis December
contract which could be followed by pullback to 1340-50 area. AGet is
showing a clean 3 wave advance from the 18Oct low which is labeled w.C. The
weekly is projecting a w.5 high at 1750 so a decent pullback in the daily
may well turn out to be a terrific trading opportunity.
Earl
----- Original Message -----
From: <Jpilleafe@xxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Thursday, November 11, 1999 12:06 PM
Subject: Near term SP500
> SP500 daily chart looks like an upward sloped trading range,...a diagonal
> triangle which supports a short term upside resolution. If the strength
this
> morning was completion of a Wave D,....with weakness this afternoon
> comprising Wave E,...we could be poised for a brief thrust rally
> resolution,...likely turning up Friday into Monday or early Tuesday
> coinciding with FOMC announcement. Target 1408-1410 on cash SP500.
Another
> reason to expect a turn (higher) here is that Fri 11-12 is
> 13 market days from 10-26 which was a key low turn date. Any thoughts?
JIM
>
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