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[Porter]

Monthly Trend Value 9 (trending up) Weekly Trend Value 8 (trending up) Daily Trend Value 1 (questionable) 45-min Trend Value -12 (running downtrend) ST Moving Av Trend Val -16 (running downtrend) Turtle Trend (LT) 4 (running uptrend) SPU Trend ..........Q......M.....W.....D.....45' SPU....U..... U.... U.....U......D Value...3.......1.....2......0......-3 ------------ SHORT TERM TRENDS Opening Range Trend Daily--Down Weekly--Down Globex 45-min Trend Down 135-min Trend Up ------------------ Momentum Trends TMom Neutral HMom Up ----------------- Bollinger Band Trend 10-day Up 7-day Neutral 3-day Down 1-day Down 1/2--day Down ----------- Moving Average Trend Mason-Dixon (NDX 200H) Neutral Gator (SPX 13D+8) Up Mallory (NYA 49D) Up Zweig (MID5%) Up Junk (ML1%) Up --------------- Intermediate Momentum Indicators NY ITBM Down NY 10D NH% Up NY Vol McSum Down ND Vol McSum Up Oversold Running 45-min downtrend in all 4 indices Porter ----------------------------- The Monthly trend failed to be reaffirmed for the SPX as 1015/SPX was broken. This leaves the possibility of a 5-point Reverse Point Wave, a bearish structure. The running 45-min downtrend in all 4 indices should produce some sort of a bounce on Thursday. As before I am looking for the Mason-Dixon line (1295/NDX) and the Alligator's Jaw (997/SPX) to provide support.