[RT] S&P500 Near Term

[Jpilleafe@xxxxxxx]

I went long the S&P500 at the close for reasons:

1.  Tues 03-28 is in a 13 mkt day series count:  Fri. 02-18 1346.07 low,
..Thurs 03-09 1401.69 high, Tues. 03-28 (long term Fibo/Gann date),
.next is 04-14 (Shows as pivot from 3 methods),..then 05-04 (New Moon,
and also hits from 2 different methods).  The risk is that this is a turn 
down from a high,..but I think not,..suspect we are setting up to rally 
into 04-03 next short term pivot timeframe.  Just my personal thought.

2.  CBOE daily Index P/C ratio yesterday was almost 2.0,...
     Today was okay,....but not great.

3.   Europe managed to hold gains despite our weakness in the US
this morning...this is a switch from recent days,...and bodes well near term.
Importantly,..the June Nikkei futures are flat with cash,..this despite a 110
point drop in NASADAQ that they have not seen yet.  Normally such tech 
stock weakness would be a real negative for Nikkei.  Suggests to me that 
Japan should hold to go higher,..and if Europe steady,..the S&P500 futures 
should be bid up in the overnight.

5.  Oil down $.50 or so is constructive for equities,..as is a 30yr. Bond 
yield
of 5.98%.  

6.  Lastly,..we are due for seasonal strength last 3 days of month,..and 
first 
two of next month,..pre IRA inflows till 04-15,...and record recent equity 
fund inflows
all bode well for near term liquidity wise.  So I am went long the S&P500 at 
the close.  Any thoughts?....Have a good evening.  JIM P.  Jpilleafe@xxxxxxx