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Strategies & Market Trends : Zeev's Turnips - No Politics
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To: byhiselo who wrote (27333)2/6/2002 5:33:28 AM
From: Justa Werkenstiff  Read Replies (1) of 99280
 
By: Re: "expect a short-term bottom over the next 1-2 days, followed by a rally into next week."

Problem is in finding a bottom for what I would consider a one or two day bounce in a significant downtrend IMO.

With respect to the gap at 1740 and it's fib. significance at 50%, you have a support level there but note that 1840-1850 produced a two day bounce and that level was breached yesterday. There was no sustainable multi-day rally.

Note also the Dow had yet to break its Fed. bottom which I expect in a matter of days. The break should be a hard one IMO.
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