AI
Tuesday, April 22, 2003 9:31:33 AM
Futures watch
Overnight resistance at 893 and 8340. Markets in slight freefall mode here since retracing down from that resistance. Not sure where the support will come in, maybe 8235 again, so will be watching for a LOD type signal. Most likely any bounce from that low will find resistance at the 100/320SMA and send the markets back down again, maybe. If that does occur it could be our Short Puts signal we are looking for longer term. Would need to see the 5day SMAs crossing negative and the markets continuing to find them as resistance. Might watch the MACD for another positive crossover but it might not make it back above 0, maybe. Possibility the gap will fill today and then continue downside, JMHO though. Need to run errands today but might make it back for the close, maybe.
Enjoy the Day Everyone!
Overnight resistance at 893 and 8340. Markets in slight freefall mode here since retracing down from that resistance. Not sure where the support will come in, maybe 8235 again, so will be watching for a LOD type signal. Most likely any bounce from that low will find resistance at the 100/320SMA and send the markets back down again, maybe. If that does occur it could be our Short Puts signal we are looking for longer term. Would need to see the 5day SMAs crossing negative and the markets continuing to find them as resistance. Might watch the MACD for another positive crossover but it might not make it back above 0, maybe. Possibility the gap will fill today and then continue downside, JMHO though. Need to run errands today but might make it back for the close, maybe.
Enjoy the Day Everyone!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
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