2 replies to this topic

[kaiser soze]

Marketwatch

 

CNBC

 

Bloomberg

 

 

Brent close to 95 again. NQ futures marginally touched Jan 24 lows. Will this be a case of a "Jump the Creek" gap down for equities?

[kaiser soze]

NQ futures have broken below Jan 24 lows and were down as low as 13,580. I see two scenarios:

 

1. (More likely IMHO): NQ futures continue selling down this evening and tomorrow morning to the 13,250-13,350 levels (could be as low as 13,000) which will mark the end of this down leg, and will be followed by a grinding up move back over late Feb, March and April to 14,700-15,100 levels.

 

2. (less likely IMHO): Sharp bounce either right at the Tuesday open or on Wednesday morning to fill the gap and go slightly higher, to say 14,400 at most.  Then a big whoosh downward that will take NDX down to 12,000 or lower. 

[gannman]

i think the sp has a chance to make it down to 4000 before this selling is over fwiw . we will see