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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (81067)	9/10/2003 4:24:55 PM
From: Shack	Read Replies (4) of 209892

Let me phrase this another way, Shack. What do you see that might keep the shorter term bullish trend alive? Its an inflection point right here Freep. It may sound stoopid but the answer is we need to move up from here. Some more specifics: The first thing would be to immediately reverse both the RLX and TRAN breakdowns. That being said we could still rally without them (hell we did it without the banks didn't we?). SPX needs to hold this level or it risks giving up the March UT line. BKX needs to hold 850, period! I am neutral right now. I even caught a few points of this down on the NQ (after taking a hit this morning on some ES longs) IBM is still key for me. Needs to be correcting only the August 28 rally or sumpin more bearish is afoot. $87 is key there. In short, I need to see more action, but the bull case did indeed take a couple of shots across the bow today. All IMO.

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