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Non-Tech : Raptor's Den

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To: GrillSgt who wrote (9796)	4/1/2003 9:40:34 AM
From: GrillSgt	of 10157

Today is day 15 (or day 1 if up) of the up cycle and with the indices down 4 days in a row, we should look for buy ops on any weakness today. I suspect we test yesterday's lows and that will tell the tale for whether today is a rally or not. A higher low should spark a nice rally. This is also day1 of the new qtr and with yesterday's selling being eoq related, I look for a rally today. ES 854 is the spot today. A break of this level up must be confirmed with a break of 857.50. This will spark a rally that could go as high as 864 and 870. Trading below 848 should bring us a retest of 840 area from yesterday. A break here and we suck down to 832 in a hurry. Watch for head fake to 839 too as we could setup an outside higher day close to spark a trend change. NQ 1034 is the spot today. Trading back above this level gets the rally started with 1051 being an initial target. A move back below 1022 is bearish and will bring a test of 1016 area. Watch for a break here to send us down to 1009 and 983 on extended weakness (unlikely). I look for 1016 to hold and the rally to start from there. Once again watch for a head fake below 1016. Dow Needs to trade back above 8000 to get bulls rolling again. A break of 8050 up will confirm rally. Any move back below 7900 today is bearish and could bring a stop down to 7860. I do not look for this to happen. Look for a bounce near 7925 area for a rally to start. I think today shgould give us more info as to where the cycle has or is ending. I still favor day 15 or day 1 today. The naz closed day 3 at 1340.33 and yesterday closed at 1341.17. This would be the 2nd higher close for the cycle so I expect today to start a new cycle. If we get another close lower today and below that number then I would suspect we stopped at 9 days.

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