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Strategies & Market Trends : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: venividivici who wrote (4585)	2/5/2006 10:24:54 PM
From: skinowski	Read Replies (1) \| Respond to of 41474

I'm considering this a corrective move unless we start to get below the 61.8% retrace of the move since October on the NDX. That's at 1609 right now. My hunch right now is that this stops at 1630-ish Good points. From 1638 (50% of Oct rally) and below we have what should be a pretty massive support area... if it gets there. We'll see. On SPX, Jan decline took back over 70% of the Oct rally. Jan low of 1259 looks like the next meaningful support. The next one would be Oct low of 1245 and change. If we rally from here, the 62% retrace of the latest fall is 1278.