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Post# of 704049
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ajtj99

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ajtj99

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Re: LG post# 2792

Friday, 07/12/2002 1:22:08 PM

Friday, July 12, 2002 1:22:08 PM

Post# of 704049
LG, the re-test has to happen off this new low within 3-4 days, IMO, or this will crap even worse than I thought.

The fact that the COMP and NDX bounced before hitting the bottom of their channels makes it even more likely that the re-test will happen and we won't have a run-away rally, IMO.

July Max Pain on the QQQ is now at 25, so to expect a rally to exceed NDX 1040 (around QQQ 26) is a bit on the optimistic side. That price intersects a pretty strong falling resistance line that has capped the last two oversold bounces.

http://www.investorshub.com/boards/board.asp?board_id=1613
AJTJ's Market Pulse
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