LG, I'm doing terrific. Cool to see you here today. Your wisdom will be missed, but the MM's will probably applaud your retirement, as they will have one less person who can beat them at their own game <G>.
I glanced at NTAP today, and I just couldn't see it going up much here. It appears to have lots of support at around 15, and maybe that's where it will base and make the next run.
BTW, what do you think about the FRL on the NDX from the Dec. 6 pivot high? It appears to me this could turn out the be a very important line in the spring and summer months, especially if we get a drop to the bottom of the COMP / NDX wedge at 1646/1320 or so.
Near term, whatever local top we get here could also be a good FRL for the next 2-months on the COMP as we possibly take care of the wedge and a H&S on the NDX.
Thinking like a criminal, I believe that as long as the 12-month comparisons are not bad, the market could follow this path. If we dropped to 1646-1660 in the spring, for example, it would not be worse than last spring. Same thing for re-testing the lows in the Fall.
I'm watching the weekly chart for a cross of the middle BB for a clue as to where we're going.
Are you exiting NTAP now, or waiting for the drop to 15? |
