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Strategies & Market Trends : Stock Attack II - A Complete Analysis

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To: Gersh Avery who wrote (48821)4/20/2004 6:34:28 PM
From: Michael Watkins   of 52237
 
Some bounce is bound to happen given the parabolic drop. Sellers will come out unless they find the news unbearably bullish.

Besides, SP + 2.5 points is roughly the size of 2 average 5 minute intraday bars. In the grand scheme of things, particularly overnight, 2.5 points is meaningless.

NQ futures - the overnight rise is roughly where the cursor is on the chart:
trendvue.com

Well within "attempt to sell it down again at the open" range.

We'll see what happens at the open. Clearly the test of the low of the last few days is important... will take it one bar at a time while the test is underway.
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