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Strategies & Market Trends : Classic TA Workplace

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To: bcrafty who wrote (70502)	4/4/2003 8:17:42 PM
From: ajtj99	Read Replies (3) of 209892

I disagree that the Brad is pointing down. Personally, I think the turn on the 2nd was a minus 1-day hit on the NDX lows on the 1st, which were a re-test of the March 31 lows. If that's the case, the next turn could be a high, which is what I'm kind of favoring based upon a plethora of stuff, but also including options expiration. I think we dump into it from above to kill the calls at QQQ 26 and above. By the way, a drop to NDX 1033 from a higher level by expiration would be about perfect for Max Pain as it's set up right now. It would also fill the gap if it's still there by then, and it would allow for a bounce up the couple days after expiration so the writers can unwind their hedges. Ideally, it would drop to NDX 1033 from a higher high than we had this week.

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