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Recap of S&R for 12/28/99.S&P opened at 1475.5 and hit resistance at 1481.5
to sell.Dropped to 1477 and closed at 1478.7
Nasdaq opened at 3640 hit resistance at 3668 to sell but did not hit stop of
3696 and closed at 3622.
As much as possible I will attempt to show utility of S&R whether yours or
mine.
>>The S&P closed at 1478.7 vs. 3622 for the Nasdaq.Numbers for
>>both appear acceptable.
>>By request:
>>S&P
>>
>>Level 3 R=1483.2....S=1474.5...Drop dead Sell and Buy points.
>>
>>Level 2 R=1481.2....S=1476.2....Stop loss points or reversal if strong
>>break
>>
>>Level 1 R=1479.9....S=1477.5....Sell and Buy stop points
>>
>>I believe the ideal opening trading range to be 1477.5 to
>>1481.2Alternatively Level 3 is interesting due to generally narrow range.
>>>>Nasdaq
>>>>
>>>>Level 3 R=3700............S=3544......Same descripton.
>>>>
>>>>Level 2 R=3665............S=3579......Ditto
>>>>
>>>>Level 1 R=3643............S=3601......Ditto
I believe the ideal opening trading range to be 3601 to 3665.
>
>>DESCRIPTION:Level 3 are points if reached have a high probabiltity for
>>profit if sold at R or Bought at S. Level 2 are stop loss points if you
>>enter at level 1.They are also breakout points if penetrated.Level 1
>>assuming we openin the range are buy and sell points.If out of the range
>>no trade.
>>
>>John
>
>
>
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