Hi IKE
i looked at all the indexs...
SPOOS--SPU9--same as you 1390 is a 3 box reversal down from the top, that is hard support, it was resistance before..1380/70 maybe...the double top breakout area...second support...
NAZ--NDU9...this index does need abreather..2470 a 3 box reversal down, 2440 would be a full retrace of the recent ballistic run up from 2380...a 50% number would be the breakout point of 2440...if we get there..
earnings have been steller...this alone will support these indexs...so the downside isn't much considering how far we've come...the street is selling the news...but i think once we clear Alan G. on Thurs, we rock higher from there...
the second half looks awesome...Y2K aside...OIL falling, inventories may be building up again, bullish...
DOW--11,050...11,100..should be support too..
all in all, not bad in the scheme of things...
i might buy some QQQ puts since that index is at the highest level and vulnerable..
my regards, Jerry
USU9...117.75 a double top buy, resistance at 118.25..solid base... |
