The New CS Board

[ahimsak]

Looks like another solid bottom, expect a 5% rally next week before the decline sets in again.

We have fallen since nov 11th without a 5% rally, and are down 12% since then.

Even in 2000 and 2008, after nasty declines, the market rallied back to the falling 200dma, and that is at 2054, falling slowly, falling 50dma another magnet for price action, is at 2047 and falling fast, and last is the falling 21dma at 2009 and falling fast.

Bottom line: Unless we crash monday, we rally back to 1960 next week, and then a drop back to 1920 before a final rally to 2020 is my best guess. Then again, I am 100% sure no crash monday, as the markets are closed! that will also help, as asia and europe can fall hard monday, and then rally tuesday so our market can rally then.

BTW, bought qld on margin at open today, am 140% long qld, looking for 70 at least next week.