TRINQ dropped extremely low today from the Friday high:
stockcharts.com[h,a]haclyymy[pc20!c50!c200][vc60][iUi14,3!La12,26,9!Lg]
Also, NDX seems a bit oversold and ready to bounce:
stockcharts.com[h,a]daclyymy[pc20!c50!c200!d20,2][vc60][iUi14,3!La12,26,9]
This 15-Minute 5-day NDX chart seems to point to short term oversold condition, although it is hardly definitive:
stockcharts.com[h,a]gaclyymy[d5][pd20,2][vc60][iUi14,3!La12,26,9]
Short term, if we break 2040 on the COMPX (and we may do that on a gap-up) we may go to 2078, which is close to a .382 Fib re-trace of 2181 to 2000 and pretty solid resistance.
If there is greater strength, we may go all the way to 2120, which is equal to about 1775 on the NDX, pretty firm resistance and also about a .618 Fib re-trace of the drop from 2181 to 2000 last week.
Short term, I believe 2078 seems imminent. |
