Re: [RT] market update

Ben:

My picture and yours on the NQ100 seem to differ a bit. I have a long term upside target here of 1986. Price stopped here because it hit an interim price target and it should retrace from here. I also have a lot of downside pressure on the long term chart. On my intermediate chart I have divergence and downside pressure so this retracement isn't over. On the short term chart I have a projected downside target of 1675 +/-. I have 2 price objectives between here and there where price could find support for another rally up. The NQ would have to rally at least 20 points from this level to void this short cycle down move. This short term up move that started Friday afternoon could carry to 1713 and 1706-7 should offer some resistance to that move.

I wonder if we will get a spike like we did on Friday? By the way I did gold on the blog.

Good trading this week Ben.

Just one mans opinion, Ira.

----- Original Message -----

From: Ben

To: e-mini_traders_anon@xxxxxxxxxxxxxxx ; ntt-list@xxxxxxxxxxxxxxx ; realtraders@xxxxxxxxxxxxxxx

Cc: vincent new ; panda2222@xxxxxxxxxxxxx ; Elizabeth (E-mail)

Sent: Sunday, November 05, 2006 10:44 AM

Subject: [RT] market update

here is a picture of the nadaq futures nq

as you can see the entire move up never trigered the perfect stop loss

(4 lines on top of chart), the third line from the top,

the bottom indicator is the profit index, it signalled an exit of longs when it pirce the upper line at the end of october

this does NOT mean that the bull run is over,

i think we only have 2-4 days of correction and then to new highes, 11/15

Ben

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