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The number I gave was 1077 I believe and yes we are
still in that same downtrend. There is still an 1190 target for this
retracement. We should 1090 before that is able to happen and at this time
I don't believe it will in the near future. . My current downside target
is 1050+/-. There should be support at 1090 and 1070. The
downside should last another couple of weeks anyway. The market usually
hits a low in October and rallies into the two holidays, Thanksgiving and
Christmas. Tax selling does take place during this period also.
Just some thoughts, Ira
----- Original Message -----
Sent: Monday, September 27, 2004 4:56
PM
Subject: [RT] long term downtrend?
Ira, some time ago you positied that we were still in the
long term down
trend til we break some number?
my weekly SnP would
suggest that is still true?
chasw
----- Original Message -----
From: "mr.ira" <mr.ira@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent:
Monday, September 27, 2004 18:20
Subject: Re: [RT] SP cash
w/perfect
In case Ben doesn't answer I will give you my 2 cents
worth. There are
downside targets of 1099 and 1090 +/-. There
is support at 1102 and a
bounce could occur there and a retracement of part
of this down move.
There is a longer term downside target of
1046+/-. This is for the S&P
index.
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