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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject12/27/2000 2:10:10 AM
From: velociraptor_  Read Replies (1) of 37746
 
Just a brief market comment...I will try to update my site by 10am tomorrow. The site I use for my charts is not updating some of the time frames from Tuesdays action so I'll have to grab them in the morning.

In summary though, we have two key points to watch...2550 and 2600. Any rally must be sustained through 2550 and then 2600 to confirm the possible start of a new bull leg. Today we reversed at 2550, short of our 2600 mark and thus signifying weakness is still at hand. Now we also have the 2550 mark to overcome. I will likely use any morning strength to open shorts again just like Tues morning and consider covering if 2550 breaks, and especially 2600.

Most of my research indicates Dec 26-27 as a turning point, and indicators are primarily negative. Tomorrow will be key.

Velo

raptorgroupresearch.com
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