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Nice analysis and I totally concur.......
did you see that support on the futures at EXACTLY 900 ?
Whoa...who was that who said "watch whole numbers" for support and
resistance ?
> -----Original Message-----
> From: topos8 [mailto:topos8@xxxxxxx]
> Sent: Thursday, July 11, 2002 3:53 PM
> To: realtraders@xxxxxxxxxxxxxxx
> Subject: [RT] Fwd: S&P and bond update
>
>
> --- In gannsghost@xxxx, "topos8" <topos8@xxxx> wrote:
> Last September's lows in the S&P and the Nasdaq 100 were both taken
> out during the past month so the price-time calculations which I
> thought had identified those lows as bear market lows didn't work out.
>
> Where is long term support now for the stock averages? My
> caculations show 894 in the S&P futures, 970 in the Nasdaq 100 and
> 8650 in the Dow.
>
> Today the S&P futures got within 6 points of their ideal level, the
> Dow hit its support and the Nasdaq 100 support again held back a
> third attempt to break through.
>
> This makes me think that the bear market low is very near in price,
> even if it did not occur today. The next significant rally should be
> the first leg of a new bull market which is likely to last about 2
> years and carry the Dow and S&P up 40 -60 % from their bear market
> lows.
>
> My calculations also show that the rally from the March lows in the
> bonds is over or nearly over. I show two, very strong resistance
> levels there, one at 105-20 and the second at 106-10. In the 10 year
> notes the corresponding resistance is at 110. Overall the picture
> here supports the possiblity of one more rally (coincident with an
> S&P break to 894?) and then a very big drop which should carry these
> markets below their March lows.
>
> Carl
> --- End forwarded message ---
>
>
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