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To: skinowski who wrote (111207)1/5/2005 5:11:17 PM
From: Henry J Costanzo  Respond to of 209892
 
Had been looking for a bounce today, SNS........and we got two bounces during the day, but they couldn't hold. The breaks at the close to new lows for the move (except for NDX) were not very encouraging, seeming to indicate new legs down tomorrow....



To: skinowski who wrote (111207)1/5/2005 5:29:49 PM
From: ajtj99  Read Replies (2) | Respond to of 209892
 
Bounce, yes, after a spike low tomorrow. However, 3-black crows on the RUT target RUT 600, which suggests any bounce should be shorted.



To: skinowski who wrote (111207)1/5/2005 7:10:20 PM
From: Shack  Read Replies (1) | Respond to of 209892
 
Something that I didn't see until today (and made a mention of it yesterday) was a good bottoming indicator on the NYSE TICK. Well today took care of that nicely as the 40 hour EMA of the NYSE TICK is into intermediate low territory. If it goes lower than where we are now then I will be onside with a larger degree trend change as this area has provided "support" during the impulsive ups during the bull.