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INDEX REPORT FROM THE ANALLYST
$COMPX -WELL THERE ARE 1-4 TRADING DAYS LEFT TO THIS CURRENT WEDGE.
IF 1,700 HOLDS THIS SHOULD FORM A PERFECT BOTTOM END W FORMATION IN
THE NEAR FUTURE.SETTING UP A MAJOR UP MOVE IN A LONG TERM BULL MARKET.
$OEX -THE DOWN FLAG IS VERY STEEP. AS A MATHER OF FACT TOO STEEP.
IF THEY CAN'T BREAK $545 WATCH FOR A MAJOR UP LEG NOW. A CLOSE OVER
$570 SHOULD CONFIRM AN OVER SOLD CONDITION. A MOVE AND CLOSE OVER
$605 WILL BE FURTHER CONFIRMATION.
$INDU -A MOVE OVER $10,350 WILL TAKE OUT THE DOWN LINE. MOST WOULD
BE WATCHING $10,400 $10,520 & $10,700. CHARTIST WOULD BE WATCHING
$10,800 & $11,400 ALL WOULD BE AFTER THE FACT. IF THE $10,100 PIVOT
POINT HOLDS THIS CAN GET STRONG QUICKLY. A CLOSE UNDER $10,100 COULD
PUT THIS UNDER HEAVY PRESSURE SETTING UP ACCUMILATION INTO THE $9,600
BAND. WHAT'S POSITIVE IS THE ANGLE IN THE DOWN FLAG. TOO STEEP WHICH
IS A STRONG INDICATION FOR THE UPSIDE. THE NEXT 1-3 TRADING DAYS
SHOULD SHOW THE DIRECTION.
$QQQ -WATCH FOR A MAJOR UP LEG IF $35.50 IS TAKEN OUT. THE WEAKER
END SHOULD GIVE IN SHORTLY.THIS IS GETTING VERY COMPRESSED INTO THE
$33 PIVOT POINT. NEG UNDER $32-VERY POS OVER $35.50
As usual do your own due diligence and keep fundamentals in mind.
John
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