Actually, I think we had our low at the lower boundry of the falling wedge. That line you mentioned is a bit obscure, but who knows.
This is what I'm looking at for tomorrow's daily chart:
stockcharts.com[h,a]daclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j6471081,y]&listNum=1
I calculate the 1080 NDX area to be a cluster of support with two rising support lines on the daily and the gap at 1081.40. That might be a sticky zone. Since it's the daily, we could probe below that and close above it.
I think it's safe to say that initially tomorrow, the 1180-1182 NDX area should be a cluster of near term support. Over the next couple of days, this support may be subordinate to the COMP support at COMP 1420-1431 as the COMP heads down also.
Actually, Jeff's cover at the close today was not such a bad idea. Unless NDX 1098 is taken out early tomorrow, the trend is still down. |
