i will remain very cautious on bearness as long as i see control of the ticker.
Today DELL news, in a truly bear controlled market would have slaughtered the NDX, instead NDX is at just 1565 now(and in view of dell news, bears have got to be disappointed---well this bear is anyway, i am quite displeased with MMs ability to control this, as this means there is no major selling presssure they can't combat).
A close above 1569 would be bullish, a close above 1157 neutral, and close below 1557, mildly bearish, a close below 1545, would be bearish.
i am falling back on my computerizd generated Daily critical support and resistance readouts, and they are 1521 and 1581.
** We have a timeline here such that the longer MMs keep NDX between 1521 and 1581, the worse it is for major sell-off to occur.
Another break above 1581, greatly reduce the chance of a significant fall sell-off.
The sooner a break down at 1521, the greater the chance of a major sell-off for this fall happening.**
As i have said, in the end all TA depends on the Critical supports and resistances as they are what CONFIRM or RULE_OUT what one is hoping for.
i proceed on the basis of never go on basis of "inner conceit you are surely right" that this or the will happen.
i have a humble, cautious bear call in place.
A prolongeg failure to take out 1521 will kill my call.
Crude Oil and the rumour circulating that Iran will agree to temporarily cease uranium enrichment( in spite relentess statements they NEVER would do that) is weakening crude.
What do i feel is happening, i feel there is a tremendous power struggle in Iran between President Admadinejad and Ex-President Mohammed Khatami.
The news release from a secret source that came out Sunday that stated Iran would capitulate to U.S. demand to cease uranium enrichment remains highly questionable and the motives for this speculation will remain extremely questionable if NOT confirmed.
But point blank, know BS, IF the Iranians were to agree to a temporary stop to uranium enrichment would be a COLOSSAL VICTORY for the U.S., as it would signal a major defeat within Iran of Ahmadinejad.
Also that toad Blair, that fanatically refuses to resign as Brit PM, is out working like hell for Bush, and he says he has made a tentative deal with the Palestinian Quisling Abbas that would PLEASE Israel and now is off to Beirut to fight for U.N. resolution 1701 and argue that Hezbollah be disarmed, as the "I AM AFRAID OF ISRAEL!" awaits Blair, this being Saniora who is doing his best to PLEASE and Appease Israel.
He played his video game night and day.
The MAZE of Death.
But that is the game we all are in, the trick, don't believe it.Get above it all and imagine nothing is what it seems.Kill the machine.otraque
