WE ARE IN WORSE SHAPE TECHNICALLY THAN WE WERE ON JUNE 28TH BEFORE GREENSPAM PULLED THE WOOL OVER OUR EYES WITH NEUTRAL BIAS. NDX NEEDS TO HOLD 2,200 SUPPORT AFTER BOUNCING OFF THE LOWS AT 2,202 IN THIS LAST 30 MINUTES. WE ARE AT 2,213 NOW. IN THE WORST CASE SCENARIO, IF WE ROLLOVER AND SELL-OFF IN THE LAST TRADING MINUTES TODAY AND THE NDX CLOSES BELOW 2,220 HEADING STRAIGHT FOR 2,185 THEN IT IS HIGH TIME AND WE ARE ON CRASH ALERT GOING INTO NEXT WEEK. IF THE MARKET REVERSES BACK UP INTO THE BELL, THE ALARM IS OFF. I HAVE NEVER ISSUED A CRASH ALERT SINCE I HAVE BEEN ON S.I.
COMBINATIONS OF LEVELS BELOW NDX 2,185, DOW 10,410, UTIL 313, RUT 417, SPX 1,287. THESE ARE THE LEVELS FOR CAPITULATION. IF YOU SEE THE BOYS HEADING FOR THE EXITS today or anytime next week approaching these levels, YOU KNOW WHAT TO DO. AND DON'T BE LONG GOING INTO THIS WEEKEND.
Best, J.T.
Edit: The market is bouncing off the lows nicely with 25 minutes to go. Do not be long into the weekend. |
