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Realtraders,
Last night I posted a message titled, "MKT Symmety S&P 500 Long-term
11/6/97". In the P.S., I stated that we had an internal wave structure of
3900 basis points. As I write this note, it is currently 9:55am EST and
the SP Z7 is at 92650. It's low is 91700. If we measure the from the
"corrected" high of 95500 (in my first post I mistaken referred to that
high as 94150), we get a decline of 3800 basis points. Only 100 points
away from our exact symmetrical match of 3900 and good enough for a
temporary support shelf.... Over the last few minutes, the market has
rallied 1000bpts.
How do we play this? Don't sell into this early morning panic. Wait a
little longer, possibly to the 93300 level and then consider pulling your
chips off the table.
John Boggio
For recent commentary and more informations regarding SymWave, please go to:
Commentary: http://www.realtraders.com/boggio/disc7_toc.htm
Info regarding SymWave: http://www.realtraders.com/boggio/boggiobio.htm
Thank you.
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