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[SemiBizz]

161 a to b leg on Nasdaq here.... .382 R = 2624 .50R =2643. 618 R = 2662 10:48 Current Nasdaq Recovery channel markers 2592 support, 2619 Resistance. 11:00 This thing breaks now at 2579 and the intraday chart turns down. If 2608 is all we got today the D target is well under 2500... 12:20 Expect a bounce now off any test of yesterday's Nasdaq Low of 2563.81. Although volume is strong, and there is missing volume data from Nasdaq, the intraday count shows volume as lower in the smaller time frames. 12:45 Bounce came as expected... looks very engineered by the timing of it, 5 minutes later would have been a disaster. Any new low now by 1:15 and it gets uglier this afternoon. 13:20 For any "rally" to hold off this low today, SOXX now needs to climb and maintain 508.13. 13:30 The Nasdaq Volume numbers are funky today on my quote systems, but currently we're only projecting 2.7B. Quite a difference between that and yesterday's 3.5B all time high volume day. That leaves us on a bullish spring setup off the lighter volume test of yesterday's low with a possible target of yesterday's high of 2632... Of course we can lose it at any time. But for the moment the bullish spring is operative. The question that has to be answered is whether we can go up on lighter volume again, and by the way we started doing that about a year ago... The steep declines here and in March can be interpreted as a reaction to that inequity...

Edited by SemiBizz, 27 July 2007 - 12:57 PM.

[SemiBizz]

15:50 Evidently since we could only manage a very shallow retracement off this 161 pt drubbing we are in confirmed FAST DOWNTREND. We either rally sharply on Monday Morning or we'll be under 2500 Nasdaq in a heartbeat.

Edited by SemiBizz, 27 July 2007 - 02:53 PM.