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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	9/7/2001 6:06:36 PM
From: besttrader	of 37746

Bias change in the commercials on the ndx. Added shorts instead of covering as they have been for the prior month. commercials added.. (net total short added) 2066 to the ndx 100 861 to the s&p (this is on the big contract) on the mini's : s&p net short is 8561 added ndx net short is 1057 added The week that they added the 5000 short contracts the trading range on the s&p was 1155-1185. 1158 proved to be tough resistance this week. The report is done on tuesday, but not released till the following friday. So the trading range below is from this past tuesday to the 5 days prior (where they would have added). Even during the april rally they maintained a net short position; but I'm looking at the below as stiff resistance. If we break above, sustained... (on good volume/breadth).. it could be a breakout and "maybe" an intermediate bottom has been made. But for now, I'm looking for any attempted rallies this coming week to stall until proven otherwise. ndx 1420-1540 and spx 1129-1166 levels where shorts were added. Murrey math: resistance ndx 1375 support 1344 spx 1080support and 1094 resistance 4/8 line Pivot Point (Stiff resistance until broken sustained) s&p 1156 ndx 1500

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