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Strategies & Market Trends : Short Selling, Dark Side, Bubble Busting Laboratory

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From: russwinter	4/12/2005 12:09:07 PM
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Various indices are spending more and more time testing support levels. That's a bearish sign, as the bounces look weaker and weaker. For dark side players, however this looks a lot like the markets last August, before the Fed cranked up the printing presses big time, and staged the 4 Q rally (false, bull trap?). "Liquidity" at this point is clearly on the light side though. In Play: 10:00AM Nasdaq Composite pushing back toward April/March lows (COMPX) 1976.71 -15.41:-Technical - Aggressive slide in early trade with the index falling below a long term trendline support off the Oct 2002-Aug 2004 lows which held on the first test in late March/early April. Important support is at March/April lows at 1972/1968 (session low 1976.08). Initial support if a breakout is seen is in the 1960/1957 area. Intraday resistance is at 1981.

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