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Strategies & Market Trends : Technical analysis for shorts & longs
SPY 691.72-0.1%Jan 16 4:00 PM EST
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To: Johnny Canuck who wrote (28505)9/28/2000 12:24:07 AM
From: Johnny Canuck  Read Replies (2) of 69827
 
Now, that is interesting! You don't often see all three indexes whimpering in the corner like this.

These tight ranges imply an explosive move is likely to happen, and it will probably come tomorrow. Most likely direction is still down, but if you are watching the market and see a strong move up through our key levels of Dow 10,700; NAS 3,700; and OEX 760, you have very high odds of a bottom being discovered. Close shorts and go long - WITH stops at the same levels (yes, we could get whipsawed).

trading-ideas.com
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