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I don't think so ... this thing is in rally time and it can't seem to mount
anything serious ... was looking for at least 1240 but questioning that now.
Charts I posted this weekend showed typical w.3 target at 1183 and then
we'll see. Overall, this inability to rally is reminiscent of last winter.
Brokerage analysts and economists do not seem to be noticing that Fed
appears to be pushing on a string ... 5 cuts at 0.5 each with expectation of
another 0.5 in a few days, yet this puppy is back in hospital. Look at the
weekly chart I posted and note that it could not even rally through my blue
50% trendline, consider the daily chart, then repeat after me ... "that was
a bear market rally".
Of course I could be wrong ....
Earl
----- Original Message -----
From: "Michael Ferguson" <wl7bdn@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Wednesday, June 20, 2001 10:36 AM
Subject: [RT] RT: SP
> 1133 CT
>
> what about this scenario Tom, Don, Earl, ???
>
> a 2 going to 127525
>
> if it turns there, a 3 going toward 1220 and then 1216
>
> or NOT
>
> let's see, this is WED, so a turn is due...................,
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