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Hi Bob,
I don't know if a rally will start anytime soon. Mr. Greenspan will speak
tomorrow, then initial claims are reported on Friday @ 8:30am EST. So, I think
traders will sit on the sidelines until everything is said and done. Plus,
being Friday no-one will hold over the weekend. So by the middle of next week
(7/27), we should see movement in the markets, looking upward.
Jupiter, Sun, Moon and Neptune are very active on the last week of July. This
should be good for many sectors, Retail, Metals, consumer goods, soft drinks &
Gas issues.
I agree that short-term indicators show over sold in many tech issues. I'll sit
and wait.
TradeWell,
Joe Frabosilio
BobR wrote:
> Now that astro is back in style with beans, how about equities. Norman
> commented a short while back about Mercury going direct. Looks like that is
> about to happen. OEX is pretty close to heavy planet support at Uranus
> 799.75 just as Mercury is turning up. Adding a bit of traditional tech with
> the Stochastic
> RSI so as to keep the feet on terra firma, a pullback to 60 or 50 or 40 on
> the Stoch RSI would still keep the bullish trend from the May lows intact.
> That High three bars back was right on the Mercury price line at point Y as
> well as at the time of the intersection of the Sun/Earth line and the North
> T Node at point X. So the stars tell me the correction of the rally from
> the late June low at point Z should be over today or Thursday morning, maybe
> a rally will even start on Globex tonight.
>
> BobR
>
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