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FROM THE ANALYST DESK
WEEKEND INDICES REPORT
$COMPX -OVER HEAD BREAK POINTS 3 MONTH CHART $1,512 6 MONTH CHART
$1,550 9 MONTH CHART $1,645 2 YR WEEKLY CHART $1,600 IF BROKEN THE
DOWN TREND SHOULD REVERSE. A CLOSE UNDER $1,400 OVER THE NEXT 1-14
TRADING DAYS COULD PUT HEAVY PRESSURE ON THIS INDEX. THE LOW ON WED
WAS EXACTLY AT THE BOTTOM OF THE 9 MONTH DOWN TREND CHANNEL. THIS
CHANNEL HAS A $300 RANGE FROM ITS BASE AT $1,325 TO ITS TOP AT $1,625
AS OF MON. THE WEDGE ON THE 2 YR WEEKLY CHART HAS NOT BEEN BROKEN
EITHER END. THIS WEDGE WILL END IN 1-20 TRADING DAYS. THE WEDGE RUNS
FROM $1,400-$1,575 THIS COMING WEEK AND ENDS AT ITS APEX IN 20 DAYS
AT EXACTLY $1,425. WATCH FOR ANY CLOSE THRU EITHER END OF THIS WEDGE
AS A CONFIRMATION FOR THE NEXT MAJOR MOVE AND DIRECTION/
$OEX -NEG UNDER $500 -VERY POS OVER $525 YOU CAN EXPECT THIS INDEX TO
SHOW ITS HAND WITHIN 1-14 TRADING WEEKS. THE DOWN CHANNEL HAS A $220
RANGE FROM THE BASE TO ITS TOP RUNNING FROM $325-$545 THIS COMING
WEEK. THE TOP OF THE DOWN CHANNEL IS AT $500 IN 14 TRADING WEEKS.
OVER $500 AT THAT TIME WOULD BE VERY POSITIVE & UNDER $500 WOULD BE
VERY NEGATIVE BECAUSE THIS CURRENT WEDGE IS TRADING NEAR THE TOP END
OF THE DOWN CHANNEL AND EITHER THIS REVERSES THRU THE DOWN TREND
LINE OVER HEAD OR THE BASE OF THE CHANNEL COULD BE TESTED FROM $250-
$350. UNTIL THE TOP OF THIS DOWN CHANNEL IS BROKEN THE BIAS IS
NEGATIVE. ONCE BROKEN THE TREND WILL REVERSE. A CONFIRMATION OF
A REVERSAL WOULD BE A CLOSE OVER $555
$INDU - NEGATIVE UNDER $9,500 POSITIVE OVER $9.800
$QQQ -VERY POS OVER $30-MUST HOLD $26 -A CLOSE UNDER $28.50 COULD
PUT THIS UNDER HEAVY PRESSURE. WATCH THE OPEN GAP BELOW IT MUST HOLD.
THIS SHOULD SHOW ITS HAND IN 1-11 TRADING DAYS. $25 & $30 ARE BOTH
PIVOT POINTS IN THE 3 MONTH CHART. NEGATIVE UNDER $25 POSITIVE OVER
$30.
Do Your Own Due Diligence.
John
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