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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 681.92

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Dec 31 4:00 PM EST

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To: j g cordes who wrote (34100)	9/7/2001 12:31:47 PM
From: Johnny Canuck	Read Replies (1) of 69358

[madtrader] Fri Sep 7, 8:46am PDT $DJI $NDX.X Yikes! Gut check time as DJI blows pass the openning lows. Te culprit is the weak financials. NDX is down merely signal digits. I wonder what Alan Greenspan is thinking right now. If he wants maximum effect, today is a good day to cut more rates, 50 basis points would do the trick. Wishful thinking, anyone? none. [madtrader] Fri Sep 7, 7:56am PDT $DJI $NDX.X Okay, we are getting the double dip on DJI here, which is dragging down the NDX along with it. Needless to say, NDX has the relative strength here. Should DJI's retest of the lows prove successful, watch NDX take off again. none. Register for our newsletter [madtrader] Fri Sep 7, 6:44am PDT $DJI $NDX.X Looks like DJI is finally getting hit harder than the techs. MSFT and INTC are both in the green right now as DOW ticks down 150 plus points. A friend who is an expert on Fibonacci numbers reminds me Sept 8 is the Fibonacci turn date. You know it falls on Saturday, so the turn (in this case it has to be up) will have to happen today or Monday. With the gap down openning we got, I am betting it will be today. Plus, let's not forget bears do take profits on Fridays too.

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