Re: [RT] sp500/nasdaq

["mr.ira" <mr.ira@xxxxxxxxxxxxx>]

Ben:

 

S&P did hit 1195 and went through 1207 to resistance at 1214.  Next resistance if 1214 is broken is 1219 with a target at 1231.  Until 1214 is taken out the downside objectives of 1170 and 1156 are still in place.

 

The NDX doesn't look as healthy as the S&P.   There is little hope at this time that it can take out 1565 to void this down move and start the next major up move.  Right now 1530-34 looks like resistance with a short term target at 1541.  We shall see what happens on Monday.

 

Have a good week end.  Ira.

----- Original Message -----

From: Ben

To: e-mini_traders_anon@xxxxxxxxxxxxxxx ; realtraders@xxxxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx

Cc: jvc689@xxxxxxx ; doroty.h ; dorothy@xxxxxxxxxxxx ; Dom Perrino ; Elizabeth (E-mail) ; Mike Burk ; Ned ma ; panda2222@xxxxxxxxxxxxx ; Ronald McEwan ; Steve Walker ; vincent ; Yacov Twena

Sent: Sunday, February 27, 2005 3:16 PM

Subject: [RT] sp500/nasdaq

Hello

 

My work suggests that Monday would not be a good day to be on the long side,

now that does NOT mean the  up move is over,

I expect a top  on 3/2-3/4

 

unless we improve drastically on the new  high new lows  situation ,and  also  improve in the put/call department, this for now looks like a major top,

 

nice week end

Ben

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