9 replies to this topic

[SemiBizz]

http://bigcharts.mar...&mocktick=1.gif



From Today's forecast:

Expect a consolidation off a test of 2611 or 2619.

http://bigcharts.mar...&mocktick=1.gif



Earlier in the week I forecast a bearish upthrust and that is what we have. The last 2 days candles are part of an overall "magnetic trading range" that was established on 7/26 (High 2632 - Low 2563). That trading range was tested and rejected on RECORD volume on 8/8 and 8/9. These are the kind of things we look for... clear signals, price rejection on volume, the fact that this comes on all time high record volume is quite important for the long term, no matter what happens short term, as in the next few weeks... we are now in that magnetic trading range on roughly 1/2 the volume of the 8/8 and 8/9 comparison candles. When the price was exceeded on Tuesday on lighter volume, the Nasdaq retreated right back under the trading range, closing inside it at 2630. Going forward, whether or not there is a spike on the open, we're going to test the bottom end of the range.

Today we had another important signal... one that most traders will miss. Today on lighter volume Nasdaq was able to test yesterday's lows, but not the highs. This market is talking to you, I hope you are listening...

For tomorrow the bar gets lowered on the support... we should see 2582 sometime tomorrow and expect a test of the 2557 fib cluster over the next few days... Over and Out.

[SemiBizz]

Nasdaq opens at 2581 !! Now you can expect an attempt to rally that will stall between 2594-2603....

[SemiBizz]

Well, we did not get much, if anything of a bounce. Looking at QQQQ chart, any sustained move down now under the 48.40 will probably result in a test of 47.79... If we get a new low and break 48.11 that's where it wants to go...



My intraday pivot/supports are saying DOWN WE GO, The lows made here are not sustainable prices(13191 Dow 2574 Nasdaq).

Edited by SemiBizz, 07 September 2007 - 09:31 AM.

[SemiBizz]

This is probably going to go on all day... we keep slipping under the intraday support pivots... we hung on one on the Nasdaq at 2566 for a few minutes and broke it... 2557 is the immediate target. There were no comments last nite on my forecast, so I bet you guys thought I was out of my ever-loving mind... that's OK.. I'm used to it.

Edited by SemiBizz, 07 September 2007 - 09:49 AM.

[SemiBizz]

47.91 next QQQQ intraday support pivot. Bounce setting up here though, taking partial profits on QID bought yesterday +2 pts.

Edited by SemiBizz, 07 September 2007 - 10:05 AM.

[SemiBizz]

Sorry about the overly-bullish expectation of a "gap up on any kind of news"... I was wrong... You had to have set up for this yesterday.... we're going to see a retracement rally I believe here off this fib support, if I am wrong then I"m going ALL IN SHORT for a ride to 2491...

edit 11:45am 3 min nas and qqqq turned UP

Edited by SemiBizz, 07 September 2007 - 10:46 AM.

[SemiBizz]

This is probably going to go on all day... we keep slipping under the intraday support pivots... we hung on one on the Nasdaq at 2566 for a few minutes and broke it... 2557 is the immediate target.

There were no comments last nite on my forecast, so I bet you guys thought I was out of my ever-loving mind... that's OK.. I'm used to it.

OK, so the creeks going back up are the same they were going down... 2566 has to hold and then they can try for 2575....


There's a little mini-scorch going on here, just doesn't feel the same when you're coming off Down 57 points eh? I expect 2594-2603 BTW.

Edited by SemiBizz, 07 September 2007 - 10:59 AM.

[SemiBizz]

Well, I hope ya'll had a good as day as I did.... NAILED IT ! I will post next week's forecast some time over the weekend.

Edited by SemiBizz, 07 September 2007 - 03:04 PM.

[darnelds]

Nice call.

Well, I hope ya'll had a good as day as I did.... NAILED IT ! I will post next week's forecast some time over the weekend.

[kaiser soze]

Daring call, stridently voiced and proven right. You are DA