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To: the-phoenix who wrote (4811)	3/16/2006 4:36:32 PM
From: the-phoenix	Respond to of 41464

Hey, didn't we have a 50 point selloff in NDX on Opex Friday a couple months ago? A bear can dream...

To: the-phoenix who wrote (4811)	3/16/2006 6:58:43 PM
From: venividivici	Read Replies (1) \| Respond to of 41464

As much as I was wavering yesterday, today restored a good deal of my faith in the bearish NDX count. The one thing that seems assured is that we are going to bust in one direction or another pretty hard. Even if the bull count is in effect, we're in a iii of something up, so we shouldn't meander much at these levels. Whichever way we break, we should run in that direction for a good bit. We might get a typical opex day snoozer tomorrow, though. But, if we get that 50 point day, down or up, I won't complain. I'm ready for either.

To: the-phoenix who wrote (4811)	3/17/2006 6:34:17 AM
From: skinowski	Respond to of 41464

The pullback in INDU and SPX was very shallow... for now, it looks corrective, until proven otherwise. NDX - the decline was very sharp. The question is - was it a C of a correction, or a fresh move down? The entire decline off yesterday's top so far should be seen as a three-waver.... and it is still well positioned to become part of a Wave 4 counting from March 10 low. Hard to tell which way things will turn.... but if NDX rallies to take out yesterday's top, I'd have to say that we'll have an impulse up - and a pretty bullish picture for the short to intermediate term (esp. if 3/3 top is taken out). Got to watch that yesterday's Bearish Engulfing stick.