4 replies to this topic

[dcengr]

Day's still young, and traders are pushing hard trying to get that gap to fill. My guess is odds are darn good that it will. I'm guessing many are looking at CES for the froth to sell the inventory they bought today. Breadth is pretty horrible, but Qs (and only Qs) are doing a fine and dandy job pushing up the hill. Probably a gap fill, then a spike monday before profit taking hits?

[IndexTrader]

It wouldn't surprise me at all to see new highs in the NDX. IT

[paulstan]

It's a bounce that is going against the terrible breadth, and it looks like Banks (BKX) are breaking down belwo the recent range . . . my take is this gap is going to last a while. But, you guys may be right . . . I don't think i t will be closed today.

[IndexTrader]

As far as my comment goes, I wasn't referring to today obviously. And, it goes without saying for the moment at least that relatively speaking the only strength we see for now is in the NDX. IT

[dcengr]

As far as my comment goes, I wasn't referring to today obviously. And, it goes without saying for the moment at least that relatively speaking the only strength we see for now is in the NDX.

IT

I'm a bit surprised by the strength in NDX as well... and its only the NDX.. not nasdaq, not dow, s&p.. transports... nothing but NDX.. well biotechs a bit too.

I guess we find out in a few days whether this was a bullish sign or a bearish sign.

I'm still following my 36, 46 patterns, and it says we should get some multiweek downside, and maybe today's the start.

Breadth is confirming it, so is sentiment to a degree (certainly COT).