Mkt update:
DJI: 3 white soldiers pattern printed, basic up swing
bullish tone is set, but short term overbought, Facing immediately resistance
at 11580 and 11650 Monday, a dip is set up for Monday and Tuesday, should last
2-3 sessions, Dip could touch as low as 11090-11230. this will be a tradeable
dip on DJI (approx –500 move)
SPX: Over bought, resistance touched Friday high, correction
coming: dip low near 1224-1231.
COMPQ: first one kicked back at resistance, LL/LH after 3
white soldiers, bearish reading, due a dip. 2320.7 is a bounce to fibo .382,
completed. dip low target near 2225, with possible to touch 2180.
$VIX: touching support here, bounce is due, bounce target
is: 26.50 and 28.60.
7/19/2008 7:52:53 AM |