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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (45617)	8/8/2001 10:49:09 PM
From: ajtj99	Read Replies (2) \| Respond to of 56533

Max, from looking at that chart the natural progression of overhead resistance now seems to be 1711 or so, down from 1800. 1687 is a .618 Fib re-trace from last Thursday's high to a possible 1560 pivot point on the NDX. I believe the more significant turns are going to come from Nasdaq Fib retraces and support levels now, However. I'm looking for tomorrow to be up, possibly closing at 1973 to 1984 area on the COMPX and up to as high 1650 on the NDX. Not a big gain, but something to take some of the pressure off the short term oversold indicators. The more I look at things, the more I believe we'll get a bounce at 1890 COMPX, which should correspond to around 1560 NDX. I'm still kind of leaning towards Monday for that low, with a green close on Monday after a morning low. We'll see.