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the most downside potential for this down move for tomorrow is aprox 40
ndx points,
that will mark bottom (plus or minus 10)
However
I agree with your Ultimate further down,,
the most up we can get is from ndx 832 to ndx 932
and then,,, down to 700 to 715
Ben
----- Original Message -----
From: "Joe Duffy" <joeduffy@xxxxxxxxx>
To: <wheelsinthesky@xxxxxxxxxxxxxxx>
Sent: Thursday, September 05, 2002 11:33 AM
Subject: Re: [wheelsinthesky] S&P
> "Who cares about the short term"? A lot of people care about the short
term.
> and likely the majority of this group. Being bullish since the weekend is
50
> points on the downside in the S&P which was missed, and that is a lot to
me
> at least. The market can't have time and price squared every day this week
> and keep making new lows everyday.
>
> There is some support for the market here. The SP bounced on the 50%
> retracement today and an Andrews midline. The RUT is at a big confluence
of
> Gann, Anndrews, and Trendline support. But I still favor looking at any
> bounce here as short lived. This support should be broken with
acceleration.
>
> >
> > Let price action be your guide but we hit exact price time square
> > this morning with 869.5 on the 9-05-02. Allow for lost motion. We
> > are catching every turn. We will see if it breaks below this one or
> > if it holds.
> >
> > And if you look at the analog years that Haytham presented, 72,73,32
> > you will notice that in one of those years a lower low was made but
> > in all cases the market was higher in the Dec than it was at low in
> > July. Interesting stuff.
> >
> > We will see by December. Short term, who cares?
> >
> > The investors on this board, who listened, have been out since 2000.
> >
> > Is Wall Street following the path of the Nikkei?
> >
> > Best Regards,
> > Lorin
> >
> > P.S. Wheat continues to rock!
> >
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > thewheelsinthesky-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to
http://docs.yahoo.com/info/terms/
> >
> >
> >
>
>
>
> To unsubscribe from this group, send an email to:
> thewheelsinthesky-unsubscribe@xxxxxxxxxxxxxxx
>
>
>
> Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
>
>
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