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Strategies & Market Trends : Classic TA Workplace

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To: The Freep who wrote (81077)	9/10/2003 5:28:22 PM
From: mishedlo	Read Replies (3) of 209892

Well everyone was looking for one last pop. Were too many looking up to get it? Here's a thought for you, perhaps we did get it and no one bothered to notice. Two days ago I went to bed with the Naz futures up +10 and the S&P futures up 4. Next monrning I wake up and NAZ is -10 and spoos -3 or 4 (forget which). Perhaps my perception is wrong but I remember something like that. When was the last time we had a 20 point reversal on the Naz in the middle of the night TO THE DOWNSIDE? On NO NEWS. Perhaps that blowoff top and reversal did occur but toook place in the silence of the night. This could be max pain and it could be something else. But it does not seem very bullish. Look at the failure on YHOO, huge breakout attempt crushed in its tracks fooling OJ. NTAP XMSR giving back gains. Is this one final run of the stops to the upside before taking this much lower. No one has commented on the TRIN and TRINQ. I can not remember the last time the Naz was above 1. People buying breakouts, breakdowns, anything and everything with abandon. Call buying has increased. Did we have a middle of the night hound that no one noticed on that reversal? Mish

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