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CBOE call and put trins remain in a bearish posture(intraday) however the
call trin peaked at 8:12PT. Am inclined to believe that when a definitive
price change occurs these trins do a binary flip flop about 1.0.
BobR
-----Original Message-----
From: G.John Boggio <jboggio1@xxxxxxxx>
To: realtraders@xxxxxxxxxxxxxxx <realtraders@xxxxxxxxxxxxxxx>
Date: Wednesday, July 26, 2000 9:26 AM
Subject: [RT] MKT S&P 500 Cash 60 minute
>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
>
Attachment Converted: "f:\eudora\attach\Trins1.gif"
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