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Mix-Ansicht- Mein Reden.. - black elk, 15.12.2000, 22:18
Mein Reden..
Hi,
From: INSIIDETrack
Date Posted: December 15, 2000 at 15:03:18
Subject: Nasdaq & S+P Support
The Dollar Index & Euro are likely to generate the aforementioned 2 Close Reversal Combo signals and could see sharp moves into January 2nd. A Dollar sell signal and Euro buy signal were triggered on 12/12 & 12/13 as previously discussed. Silver has just hit its intra-week downside objective of 462.0/SIH and the next 1-3 weeks are likely to usher in a bottom. This should take the pressure off Gold and allow it to rally sharply into January.
Most important is the underlying tone of the stock market. Today’s close is critical in stock indices to determine whether a low will take hold in the next 3 (trading) days or give way to an accelerated move down. In previous posts, I explained why the markets should see a steep decline into 11/30 and then a sharp rebound into 12/08--11 before another decline took hold. Now, the markets are about to determine if this decline is a ‘b’ wave before a stronger ‘c’ wave advance… or the start of a new primary wave down. Cycle lows align next week and will be filtered by the following price analysis…
One of the reasons for this is/are the downside objectives for this week. The following is an excerpt from the 12/09/00 Weekly Re-Lay that explained where the markets were expected to fall to this week:
[Beginning 12/09/00 Weekly Re-Lay excerpt]:"The weekly trends in all three indices are down. The SPZ gave its customary rebound and is poised to drop back to at least its 1320--1327.00/SPH support range, at which point it should give some indication as to whether this is the beginning of a new leg down or the completion of a ‘b’ leg retracement before a ‘c’ wave rally. The Nasdaq 100 has similar support at 2587--2614/NDH." [End 12/09/00 Weekly Re-Lay excerpt]
In case some of you do not follow the futures prices, the Nasdaq 100 just hit 2560/NDH and the S+P 500 just hit 1323.50/SPH, fulfilling these downside objectives for the current week with near precision. If these indices close at or above these levels today, the chance of a quick spike low and subsequent rebound by the middle of next week will increase.
black elk
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