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At this level, the QQQs have made a 50% retracement from the lows.
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Friday, June 16, 2000 5:55 AM
Subject: [RT] Re: S&P Bullish view
> Part ll, with charts this time. Are the longs or shorts facing higher
risk?
>
> BTW, at this time, 07:53 CT, the mini SP is UNBELIEVABLY agnostic on the
new
> numbers.
>
>
>
>
> Michael
>
>
>
> ----- Original Message -----
> From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, June 16, 2000 07:45
> Subject: [RT] Re: S&P Bullish view
>
>
> | Or, a narrow sideways channel, butting up against resistance. The
question
> | is, are the longs or the shorts facing higher risk?
> |
> |
> | Michael
> |
> |
> |
> |
> |
> | | I like it! Here's a gif of the Nasdaq from 8/21/96. The current market
> | looks
> | | virtually identical. The handle in that case persisted for about
another
> | two
> | | weeks longer - and then the market took off for a huge run!
> | |
> | | rgds phil
> |
> | |
> | |
> | | > Bullish view on (cash) SP which must be resolved by Monday. Green
and
> | | > Red lines mark longer term resistance and support. Blue lines mark a
> | | > very bullish cup and handle in which the bottom of the handle has
been
> | | > limited to the 38% retracement level. Handle will run out of room
> within
> | | > 2 trading days. AGet revised count is also very bullish. Not to
> mention
> | | > that Friday is both triple witching and full moon so this should be
> | | > resolved quickly.
> | | >
> | | > Earl
> | | >
> | |
> |
> |
> |
> |
>
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