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Recap on the S&P for 12/29/99:Suggested level 3 was the one to trade due to
the narrowness.Going short at R3 1483.2 would have closed at 1482.2 in worst
case scenario.
Nasdaq would not have been traded since it did not open in level 1.
That's how I read my S&R and you can read yours your way.
>>The S&P closed at 1483.5 vs. 3744 for the Nasdaq.Numbers for
S&Pappear acceptable;Nasdaq a little wild.
>>By request:
>>S&P
>>
>>Level 3 R=1489.2....S=1475.2....Drop dead Sell and Buy points.
>>
>>Level 2 R=1486.6....S=1477.8....Stop loss points or reversal if strong
>>break
>>
>>Level 1 R=1484.1....S=1480.3....Sell and Buy stop points
>>
>>I believe the ideal opening trading range to be 1480.3 to
>>1486.6.I like level 2 and 3.
>>>>Nasdaq
>>>>
>>>>Level 3 R=3850............S=3638......Same descripton.
>>>>
>>>>Level 2 R=3802............S=3686......Ditto
>>>>
>>>>Level 1 R=3773............S=3715......Ditto
>
>>DESCRIPTION:Level 3 are points if reached have a high probabiltity for
>>profit if sold at R or Bought at S. Level 2 are stop loss points if you
>>enter at level 1.They are also breakout points if penetrated.Level 1
>>assuming we open in the range are buy and sell points.If out of the range
>>no trade.
>>
>>John
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