To: donald sew who wrote (11782 ) 7/16/2001 2:48:50 PM From: Lee Lichterman III Respond to of 52237 Paul already mentioned it so I didn't post it here but I said this earlier on our site.... By Lee_Lichterman on Monday, July 16, 2001 - 01:35 pm: Edit Well I guess it is safe to say the daily sell signals were the right ones to follow. Now we have to see if there will be a floor here around the gap support for the weeklies to kick in when this is over. I keep waiting for a bounce to get short and it is just grinding down. TRIN and TRIN.Q still nasty looking and the TICK refuses to go positive. We are approaching the minimum 50 point level from the H&S I mentioned earlier and are also at the gap. If we don't bounce soon, then it looks like another 50 points to fill the gap completely ( I am going by the NQ futures chart, the cash index may be slightly different) ========== Of course it bounced there but now I just posted this...... By Lee_Lichterman on Monday, July 16, 2001 - 02:41 pm: Edit We need a strong rally spike here fairly quick to invalidate what is appearing to be a intra day bearish wedge on the NDX and NQ futures other wise it looks like we should hit the apex in another half hour or sooner and break downward again. I show first real resistance around this 1720 level on NQ futures and then larger resistance around 1740. Subtract about 10 points for the equivilent NDX cash level. If the bearish wedge breaks to the norm and doesn't get invalidated soon, then the measure of the break would be enough to drop below the gap support and I would bet we fill that gap which is another 50 points down from here. RALLY, RALLY , RALLY -ggggggg- If we can get to 1740, I will be adding shorts. Good Luck, Lee