[RT] MKT S&P 500 Cash 60 minute

["G.John Boggio" <jboggio1@xxxxxxxx>]

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Realtraders,

   Currently it is noon on 7/26/00 and the 60 S&P Cash chart is running 
into several support zones.  If you take a look at the attached chart, 
notice the current price level has retraced to the upper declining 
trendline.  Further, we have met a Fibonacci  retracement of 38.2% from the 
May low to July high and the additional confluence of a symmetrical 
pullback of approximately 55 points.  This can be seen with the original 
Wave 1-2 dated 6/21-6/29 and the current Wave 3-4 measuring 60 points and 
is within the acceptable leeway zone (20%).  If the market should decline 
below a level of 1448, then this wave pattern will fail and greater 
downside action is likely.

Just my 2 cents,
John Boggio

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Attachment Converted: "f:\eudora\attach\S&P Cash 072600.gif"