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I'd agree with that, with the following modifications:
If/when we get a break of 1406.50 March, I would expect a move down to 1343.
However, until this level is broken, I expect a rally to a slightly higher
high, namely to 1476.40, and then that the break will begin from there.
I'm hanging tough in my long position for now.
Warren Goldstein
Commodity Trading Advisor (registration pending).
Email: wsg@xxxxxxxxxxxxxxxxxx
Website: www.wsginvestments.com
-----Original Message-----
From: listmanager@xxxxxxxxxxxxxxx [mailto:listmanager@xxxxxxxxxxxxxxx]On
Behalf Of Earl Adamy
Sent: Wednesday, December 15, 1999 11:05 AM
To: realtraders@xxxxxxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] Re: sp500
NASDAQ breadth models have finally cracked and this should allow the S&P to
correct. If/when we get a break of 1409 March, I am looking for what
"should" be a w.2 50-62% retracement to 1340-60 followed by a long w.3
rally. The fly in the ointment is in the weekly breadth models and
commentary which I posted a few days ago - the last time we had a similar
situation in the weekly breadth was December 1972.
Earl
----- Original Message -----
From: Ira Tunik <ist@xxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, December 15, 1999 8:49 AM
Subject: [RT] Re: sp500
> It should hold 1417, if not you are looking at 1402.
>
> Proffittak@xxxxxxx wrote:
>
> > In a message dated 12/15/99 12:55:42 AM Eastern Standard Time,
ist@xxxxxx
> > writes:
> >
> > << There has never been a central bank intervention that stopped the
rally or
> > fall of a currency for an extended period of time. How many times did
they
> > intervene to stop the fall of the yen. It didn't work either. They
just
> > don't have enough money. If you want a really bullish scenario on the
yen,
> > look at the monthly continuation chart from the 74 low. Ira
> > >>
> > Good Morning Ira
> > nice to hear from you
> > Can you share with us your wisdom re sp500 outlook
> > I personally see a pull back to 12/23 to the 1340-1350 area
> > Regards,
> > Ben
>
>
>
>
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