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 : CFZ E-Wiggle Workspace -- Ignore unavailable to you. Want to Upgrade?

To: the-phoenix who wrote (4872)	4/9/2006 10:37:19 PM
From: venividivici	Respond to of 41491

My wiggle read is that we head up early, perhaps after finishing what looks like a diagonal in the NDX, probably in a B wave, but the rally fails around the 50% retrace of the move from 43.05 to Friday's low or whatever low we get tomorrow early, and we start a C down. Right now, that'd mean we turn down at 42.60ish I ran some numbers on QQQQ performance the day after a 1% sell-off, when it closes at or very close to the low. Basic outcome is the following day's high is about 2.6% above the low of the 1% sell-off day. But, when you control for volatility, as measured by the VIX, our expected high tomorrow will be about .9% above Friday's low, which should get us short-term overbought. The open should be about flat. Bottom line is that I think we get over 42.60 but not much more than that before going sub-42 in the C down. I think by op-ex we're going to new highs on the NDX, though. That's my map right now, although a sprint to new highs from here would work out best for me.