Trader J's Inner Circle Message Board

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Strategies & Market Trends : Trader J's Inner Circle

NVDA 171.57

-3.3%

2:01 PM EST

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To: LTK007 who wrote (44777)	7/11/2001 7:48:18 AM
From: ajtj99	Read Replies (3) of 56535

Yeah, I noticed that yesterday Max. That's why I didn't post the 60-minute NDX. It looked too oversold to be correct. Nonetheless, it's possible we may get a small bounce at some time this morning, either at 1940 or 1900. My guess is 1940. I'm going call-side for a few days if we do. I'm looking at MSFT's lower band of their trendline, and it appears that it may tell us where the market is going to bottom. A .382 re-trace of their run from 40.25 to around 73 would take it to about 52.75 or so. If the COMPX went down correspondingly, it would take us to 1612. A bounce off MSFT's lower ascending trendline at around 48.5 in August would take us to 1400 on the COMPX, also strong resistance (Oct. 1998 low).

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