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Politics : Idea Of The Day
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To: IQBAL LATIF who wrote (27175)6/24/1999 11:51:00 AM
From: IQBAL LATIF  Read Replies (3) of 50167
 
from IQBAL LATIF on Jun 24 1999 3:28AM EST --- 1330 support..For me NDX support at 2206 is important to hold, if we take this out I will be cautiously play on the short side.. I will not like to see a close of DOW below 10470, a single day closong break of 572 on DOT or 295 on IIX will lead me to sell my trading positions.
I will laso focus on BKX carefully it is sitting at support, on SPU my ressitance remains 1362-64 area and next one at 1372, if we take out 1330 we go hard to 1292, on the other hand a break of 2255 on NDX and 600 on DOT will lead us higher on Comp as well as SPU.. DOW index needs to be watched it has regained some importance as a barometer and I would be watching for that close or break of 10470 area, that would be a signal to 9800 support move if we have it on two closing basis. Overall in my opinion markets will remain volatile and we need to keep a close watch. I think if we break the old high on NDX and Comp we can have a potentially 1200 point move of DOW from here.. However for NDX to break we need IIX and DOT as well as INX to break the resistance on 312 600 and 500... Lets watch it carefully... The selling pressure on NDX and internets components at day before yesterday highs depicted a lot of sellers but if we have one single close above 600 or 312 we move up quite fast..
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