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Correction ... the big spike in SP0H to 1439 has now been filtered out
of my data feed which puts a different picture on the price structure.
SP0M is showing a reasonably clean 5 wave structure on the 60 minute
chart so while my comments regarding time remain valid, the price
structure does not include the huge bearish spike to which I referred.
The daily does appear to be shaping up as an ABC corrective rally off
the low.
BTW, the degree to which US continues to inversely track ND is amazing.
Earl
----- Original Message -----
From: "Earl Adamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, March 10, 2000 10:12 AM
Subject: [RT] Re: SP500.... Change in trend time?
> As it stands, the SP rally is overbalanced in time as the previous 2
> rallies have been 7 days and declines 10-12 days. I don't have a time
> cluster today, however this rally has lasted 9 days which is bullish
but
> time for correction. The big negative is the huge spike close to my
> price objective followed by an apparent sharp reversal. Should SP
close
> below 1327 (basis March), it would seal a weekly bearish reversal
> through the weekly Oct98-Oct99 trend line. The price pattern of the
> rally off the low appears to be shaping up as an ABC which is not
> bullish. I would have more confidence in the NYSE buy signal yesterday
> if today had features a pullback without the rally to new high.
>
> Earl
>
> ----- Original Message -----
> From: <Jpilleafe@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, March 10, 2000 9:24 AM
> Subject: [RT] SP500.... Change in trend time?
>
>
> > Regarding S&P500 and NASDAQ,...several things bother me here,...
> > including a pervasively weak P/C ratio,...(psychology
> "overbeleived"),...
> > and S&P500 at key downtrend resistance cash 1406 level,...etc.
> >
> > My concern here is that I am expecting a pivot date on Fri. 03-10
> > to Mon. 03-13. This is based on a confluence of methods all
> indicating
> > this time frame as being a likely "Change in Trend",....more likely
> than an
> > "Acceleration" point up through down trending resistance,..etc.
> >
> > Anyone else share similar expectation for an imminent move lower?
> >
> > Regards, JIM Pilliod jpilleafe@xxxxxxx
> >
> >
> >
>
>
>
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