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Strategies & Market Trends : E-Mini Pit

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To: the-phoenix who started this subject6/25/2002 8:53:25 PM
From: the-phoenix  Read Replies (2) of 11288
 
Say goodbye to NDX 1000.

And look for a retest of the September lows tomorrow morning on the COMPX and SPX, perhaps.

OTOH, it appears that the NDX may open tomorrow below its lower Bollinger Band. That has only happened 5 or 6 times this year and in every case but one it was a rally day, usually with very little drop below the open:

stockcharts.com[w,a]dacaniay[dc][pd20,2!b8!f][vc60][iUl7!Lh14,3]&pref=G

If we open below 1000 NDX and near the September lows for the COMPX and SPX, then I would fade this news-driven selloff. There wasn't anything that earth-shaking, anyway.

We need to run up into the FOMC announcement and THEN selloff <GGG>.

Phoenix
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