Technology Stocks & Market Talk With Don Wolanchuk Message Board

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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk

SOXL 42.80

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4:00 PM EST

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From: da_cheif™	7/29/2006 10:01:52 AM
	Read Replies (3) of 206731

monday is a pivotal day........geometry at its finest.....on friday the sept sp nailed its 200 day ma at 1286.......off the low of 7/18 of 1231 a 75% retrace is at 1244.75........the gap fills at 1244.70.......the wed before the week of expiration comes in 8 trading days on aug 9th......soooooo...in a perfect world 1244.75 will be reached on or about aug 9th.....however.....in an imperfect world any move above fridays high of 1286 by more than a nano tic or 2 and more importantly the 150 day ma at 1295.50 the gap at 1299.10 is the next overhead target....i hate gaps underneath....i luv gaps overhed <G>....specially that one at 1339.20..... :lol: ...can you just imagine how foaming at the mouth the bears will get if da boyz decide to go for that 1244 gap.......it would probably require some news event to alibi the move as everything is pointing up intermediate term but short term the clx chit is now at a crossroads as the aydis is in the sell zone (can stay there for a long time) and 10 day offsets will be used up on monday or tuesday....sooo after the normal volatility surrounding expiration ...... The end result?....much higher prices.......one big plus for the short term remains the high trin readings and other measures of sentiment like timer digest, aaii, and investors intell which all show inordinate defensiveness relative to price and the wave structure of the dow transports appears to have completed a clearly defined ABC decline off its hi of mid may....the decline went to and stopped at its 75% retrace off its low of january....and is therefore poised to explode......as for the naz comp....the prior 88.7 intermediate term support is now resistance at 2100.....above that it would appear to be clear sailing to the overall big picture 38.2 retrace at 2645

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