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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (66779)	2/19/2003 1:23:57 PM
From: Perspective	Respond to of 209892

I sincerely doubt the possibility of anything being able to reach further highs, even on that count. However, I see the reasonable possibility of a failed "C" that runs 62% of the Oct-Dec rally. That would put SPX at 920 resistance. It could be an impulse or an ending diagonal. It would likely require a retest of the highs for NDX, with a 10% gain there, which limits the likelihood of the whole idea to me, but stranger things have happened. The spring is certainly coiled here for more of this short-covering rally. That said, much will be know by the interaction of SPX with key resistance at 870. If it gets there, I'll be selling it hard on the first try. That would happen most likely with NDX up against that 1060 resistance - a 6% move in NDX and, not coincidentally, 3% in SPX. BC, hoping for SPX 870 and NDX 1060.