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Haytham:
Thank you for the pictures and continuing
analysis.
I am wondering if your scenario is in
danger, however.
First of all, tomorrow is Friday, of
course, which is the worst day of the week by far with the spoos having a -7.4%
down for the year so far (intraday trading only, not counting gaps) and the
total of all days is -5.5% down. So, Friday has more than all of the
intraday downmove total for the year. The fact that we have lower lows
today versus yesterday in both the spx and the ndx is not
reasurring.
Sitting near the top of the wide
Keltner fib channel with atr near prior swing lows is not reasurring for
immediate new highs in the spoos. If the cluster of fib supports at the
1280.6 March 8th high were to give away tomorrow morning, a significant
retracement could be seen as atr expansion to the downside occurs. The
fact that VIX sits at 23 on the daily corresponds rather closely to the
approximately 4 mo cycle of vix lows and swing highs.
Just an alternative opinion. As a
daytrader, these kind of projections are only useful to me as a roadmap, but as
for the open tomorrow, I am looking to go short.
Best regards,
Don
<BLOCKQUOTE
style="PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
<A title=H.Albizem@xxxxxxxxxxxxxxxx
href="mailto:H.Albizem@xxxxxxxxxxxxxxxx";>Haytham Albizem
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>Realtraders
Sent: Thursday, May 24, 2001 8:51
PM
Subject: [RT] some thoughts on NASDAQ
today
Some comments on the gif pictures.
HaythamTo unsubscribe from
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