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Great call Ernie!
I was thinking about you all day today and your
"forecast".
Excellent work. How do you do that!?
Warmly,
-- Brian
At 08:00 PM 8/29/2002, you wrote:
The market played out scenario #3,
and appears to have completed the current down move. While I have a very
high degree of confidence that today was the low for move, until we see a
confirmation signal there is still a small chance that we could go lower.
For the sake of clarity the confirmation signal will be a closing price
above today's high.
E
http://groups.yahoo.com/group/snpforecasts
-----Original Message-----
From: Hill, Ernie
[mailto:ernie.hill@xxxxxxxxxx]
Sent: Wednesday, August 28, 2002 9:41 PM
To: realtraders@xxxxxxxxxxxxxxx
Subject: [RT] SPX forecast Update
Once again today could be the bottom, as we came within a whisker of the
910-913 target range, and both of my short term cycle indicators are
suggesting that a turn is imminent. While the next target level of
876-884 is still a possibility, at this point I would have to say that it
is not very likely that we will go that low.
The 910-913 range has emerged as the high probability target for the
termination of this short term down move. The most likely scenario for
tomorrow would be a move slightly lower into the target range or just
below before the market terminates the move, and begins to go higher. The
second most likely scenario is that the market will open higher and
continue to move higher from there. And the third most likely scenario
would be a continuation of the down move possibly as low as 900, with an
intra-day reversal featuring a closing price above at least 911. Each of
these scenarios involves the 910-913 target range.
Despite the high probability that we are about to make a turn and not
likely to go much lower, until we see the turn confirmation signal this
market could still reach the lower target range
E
http://groups.yahoo.com/group/snpforecasts
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