Discussion in 'Index Futures' started by waggie945, Aug 12, 2003.
987.00 = 40 Day MA
986.42 = R1
Fed Rally Stops There!
Great call...especially since it already STOPPED THERE at 2:54 EST and you posted at 3:05 EST.
I can attest to the accuracy of waggie's work. Of course, not that my word means anything to anyone, but he has nailed this stuff repeatedly previously in PM's to me.
SPX has been channeling nicely.....just so happens the top of the channel today is 987`ish.....hope you all made $$$$
have him post his stuff real time, we'll see how good he is then
"I can attest to the accuracy of waggie's work. Of course, not that my word means anything to anyone, but he has nailed this stuff repeatedly previously in PM's to me."
OK...I take back my original post. So many people post stuff after the fact, I just wanted to call him out on it....my apologies Waggie.
I post intraday support & resistance levels for the major indices on my website daily (Monday to Thursday) around 8:25 am CST. If you ever get a chance take a look and tell me what you think. I'm interested in your feedback.
It's hard posting iand trading in REAL TIME.
I just thought that I would post the obvious numbers since most people probably already saw the R1 = 986.42 and the 40 DAY MA at 987.10
Will we fail going into the close, or squeeze up to the next R2 at: 991.58 ???
Like yourself I felt 986-987 represented a prime shorting area for the intermediate term. 50 day ma, all the intermediate term ma;s 10,20, etc sloping downward. Also the .618 retrace of this previous swing from 1004-958. Well it appears the "push" was higher into the close, and the fact that there were literally almost no pullbacks whatsoever in the last 30 minutes definitely tells me the surprise side was going full and strong...
Note: It will be interesting to see how the NAZDAQ market absorbs the AMAT and MXIM quarterly results.
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