ajtj99's Market Pulse

[ajtj99]

Well, I believe we have a weekly floor at NDX 1361, so we might not really go much below that. We approached it today without undercutting it.

The 60-minute TRINQ did re-set the fast stochs today, but the full and slow are not completely re-set:

http://stockcharts.com/def/servlet/SC.web?c=$trinq,uu[h,a]eaclyyay[pb20!b50!b200!c13!c20!c50!i!d20,2...

As you can see by that chart, usually the slow and full stochs are subordinate to the fast stochs on the TRINQ 60-minute when the fast stochs reach near the 100-level as they did late today. Translation: more up in the indices. However, you knew that anyway with that phony top on the Dow at 8600. <G>

Note also the 15-minute NDX ADX +D is near the 10 level, which would give us normally a 1-day bounce at a bare minimum:

http://stockcharts.com/def/servlet/SC.web?c=$NDX,uu[h,a]gaclyyay[d20030801,20030909][pb20!b50!b200!c...

I haven't looked at the structure of the move yet, but isn't it possible the "B" up was yesterday's highs, and today's dump is a brother to the dump late last week? That's what it smells like at least.

Lots of trash I look at still are looking up.