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Non-Tech : Raptor's Den
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To: velociraptor_ who started this subject2/10/2003 9:05:58 AM
From: GrillSgt  Read Replies (2) of 10157
 
Today is day 13 of the current down cycle and we are fast approaching the end of this cycle, so I look for 2 of next 3 days down or all 3 at this point if we are to put in a 15 day cycle. Last cycle lasted 14 days and with daily stochs getting compressed down here we could have another 13-14 day cycle.

ES Trading below 832 is bearish and could usher in another move lower down to 824 and 816. Look for a bounce here. Trading back above 832 becomes choppy and difficult up to 836 and 840. Only a break of 840 to the upside does a rally resume to 845 and 850 which is unlikely. I look for more new lows today with 816 support. We still have a gap at 805 which is only a stone's throw away now.

NQ Trading below 960 keeps the pressure on down to 951 and 935. A break of 935 and the rug is pulled on this index down to 917. Trading between 960 and 980 becomes another diffcult choppy adventure. Only a break above 987 puts the bulls in control for a move back to 1000. Look for a rejection there. I look for most trading between 940 and 969 today.

Dow is a mess. Amazing that this damn index can keep grinding lower with no panic selling. We break some important support friday and we remain low vol grind with a late day bounce. Go figure. No fear will not allow this to rebound much. We put in an outside lower day close friday which is a very negative signal. I suspect follow through today. Volume has to pick up to get some fear out there. A break below 7850 should start the ball back down again to 7800 and 7760. A break back above 7900 creats another difficult trade up to 8000. Strange action in dow imo.
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