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Ira:
Are you suggesting a retracement target of 1239? Thats
only 4.5 points off the close? Thx.
Higher Oil today, the new issue supply from Google, some
indifferent economic numbers, and the tape was trading heavy all day. Still, if
it gets through the week without getting hammered, imo its got further new highs
above 1255.
The Fed looks ready to raise again in September imo,
but then take a wait and see approach. The peripheral numbers in some
of the recent economic data have indicated a softer or slowing
economy. If the Fed takes this approach I believe the market will find it
encouraging.
----- Original Message -----
Sent: Wednesday, September 14, 2005 6:06
PM
Subject: Re: [RT] ESZ 15 min
Today's lows in the EZ Z were an intra day target
on the 60 min chart. There should be support here and a retracement
or at least some horizontal price action at this level. At that point
one can see which trade is next, the up move or the down move. If the EP
for the retracement is hit, price could carry to 1239. One should take
note that you are in the up trade until 1185 is taken out.
IF the greater pain theory is to work at this
expiration then the SPX will go out at 1225,
Just some idle thoughts. Ira.
----- Original Message -----
Sent: Wednesday, September 14, 2005
2:11 PM
Subject: [RT] ESZ 15 min
1. The SP cash is thumping up
against the 62% retrace of the 2000 highs.
some nice targets if it gets thru
MA then bottom of the wedge is support @
1201-07, else the old Median Line around 1120
2. seem to have expended a
good bit of energy opn the 15 min ESZ
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