Silicon Investor (SI) -- The First Internet Community

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 : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: HairBall who wrote (78039)	6/5/2001 6:18:30 PM
From: ajtj99	Respond to of 99985

LG, I think the case can be made that the QQQ is still within its 50% fib retrace of the drop last week. The COMPX is stretched a bit beyond those limits, and the SPX is just a little past it also, but these levels are so close that it must still be within the realm of possibility, IMO. If we gap down in the morning or even slowly drop, I believe the bear trend may be still in play, especially if we drop below the 50 Fib levels on volume. The alternate theory for a bear could be that the drop to 2095 was distribution, and the next drop will be the real deal fib, and the counts would be adjusted from there. I have a hard time seeing us make another stab at 2388 with so much bad news looming around the corner and options expiration next week.