So, Shack, you see the COMPX possibly in an ED here, and that means more up tomorrow (with little down). The other possibility seems to be that we've done 3 waves down and now need a 4 up (likely started, or it's a 4 of 3) and a 5 down before we get a bounce of some sort. My question du jour is. . . what numbers are you looking at to provide a hint as to which one it is?
The move up could retrace a fair amount still. . . or it could test new lows in a "b of 4" then go up, then down again. Obviously, any major new lows would indicate a 5 down had started. . . but until then.
I ask cuz just as I can't see what's kept stocks up, I also don't see what will drive them down sharply, unless all the "bad" news reaches a critical mass (which apparently it did just before 3 o'clock today, if only for a little bit). I look at other indices like the SOXX for clues, and they don't help me much, except that I think that index is full of bloat. But it has been for some time, and Intel reports early next week. . . and. . . and. . .
Anyway, for my illumination, do you (or Allan or others) have some good lines in the sand? I'm looking at around 2025 and 2010 on the Naz downside and resistance around 2055-60 on the upside. . . but haven't figured out if those are worthwhile <g>
Still the confused freep |
