If it were not for President's day Monday the market would have been worst. Anyways, it closed below pivot 626 and Tuesday's numbers are 626, 622 and 621. Again it starts narrowing and is an NR7. The bias is break out to the downside. The sellings are not finished yet. As anticipated the three Nasdaq horsemen rolled over. AAPL nt target 120, RIMM nt target 91 and GOOG nt target 506 and OIH nt target 162. Well what about OEX nt target? The thinking is 610 to be revisited, 1320 in SPX. Have a great long weekend folks.
2c
2 comments:
618 held yesterday!
Bullish?
No, actually quite bearish. Believe it or not, Friday gave a confirmed sell signal. 618 is just a daily support and lower channel. But at this junction I do expect that to be broken to the downside.
2c
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