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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 677.56

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To: Johnny Canuck who wrote (38605)	12/18/2002 12:56:40 PM
From: Johnny Canuck	Read Replies (1) of 69882

[madtrader] Wed Dec 18, 9:14am PST QQQ $SOX Yes, we are having a small bounce from the lows. But again, the pace is uninspiring. What troubles me is the look on the charts, bunch of bear flags. SOX has the most obvious of the bunch. So another retest or even break of the morning lows is likely. I am having a tight stop with my longs here. Of course, even if my longs proves correct, I don't expect anything more than a 62% retracement from yesterday's highs. Which takes this tape back and fill the morning gap.none. [madtrader] Wed Dec 18, 7:57am PST QQQ I don't believe Friday's lows will break this time around. So I will get back on the long side here.long QQQ. Register for our newsletter [madtrader] Wed Dec 18, 7:15am PST QQQ My shorts got stopped out.covered QQQ. [madtrader] Wed Dec 18, 7:01am PST market We are fast approaching Friday's lows. Obviously traders are watching to see if it will hold. If not, we can expect to go down to Nov 11th levels.none. [madtrader] Wed Dec 18, 6:43am PST market QQQ is sitting on intraday 62% retracement level here (Friday's low to Monday's high). OEX, DJI have retraced 79%. I am tightening my stops on the short position. If the bulls want to turn things around, this should be the start.none.

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