John, (if I'm reading your chart correctly)...would a retracement to (around) 2550 hit good support, and that would also be a nice Fibo retracement (37.5% retracement of last week's 400 pt. move, close to 38.2%....or, if we hit 2547...we do the Fibo perfectly)...
Looks like 2550 is a level to watch..also, if we hit that, say Wednesday, that would give the Naz a little rest, and allow it to gather strength before next up move...
Finally, last year, I noticed a tendancy for the Naz to go down early in options ex week, and head up later in the week (which, cooincidentally, corresponds nicely with beforementioned possibility)....have you ever noticed that?
Would dovetail nice, no? |
