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Strategies & Market Trends : Complacency Indexes

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To: TechTrader42 who wrote (1093)4/29/2002 3:26:20 PM
From: ajtj99  Read Replies (1) of 1487
 
All the call buying here really amazes me. I can't imagine what's behind it, other than hedging short positions that have already gone pretty far. Maybe there are some people who are relying on the old 1074 SPX and 1646 COMP support levels. Whatever. They're toast.

Actually, the NDX has only traded to a low 12-points below the 4:15PM close on Friday, so it's really not down that bad. MSFT is holding things up. Since it appears to have hit it's local bottom, the NDX bottom seems to be fairly close at hand. Possibly 1210 NDX
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