ajtj99's Market Pulse

[ajtj99]

The .618 re-trace for CSCO is around 24.20. That's like a line in the sand. Really, CSCO broke daily rising support on the open this AM. The bullish case is that this drop is a wave 2 down off the wave 1 up to the 25.05 high.

A 1.618 extension would close the hourly gap at 26.42 or so. That's looking like pie in the sky right now, however.