Classic TA Workplace Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Classic TA Workplace

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: the-phoenix who wrote (132739)	5/18/2006 8:26:17 AM
From: skinowski	Read Replies (1) of 209892

NDX is below your Support level. It seems like a bounce is about to materialize out of this oversold condition. Looking at SPX, the decline of the past 2 days was impulsive - giving us an important resistance level - the top of May 16 of 1298, which is also approx. 50% retracement of the decline up to date. I wish I could call this "Key" resistance, but I can't, since the wiggles of May 8-10 may contain a Wave 1 - which would make yesterday's low the end of the entire impulse. The way things stand at this time, I'd say that above 1304 (62%) the odds would be increasing that we may see new highs - which I do not expect.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next