Replies to post #107344 on ajtj99's Market Pulse

[michael03332002]

here we go loopty loop

watch out

and could get a whoosh type down open w/ the futes maybe being slightly up when she opens up, but they are going to take out all the stops again here before heading on up

your thoughts?

M

[ajtj99]

LG, I don't see that rising support/resistance line you're referring to. Where does it originate? Is it an all-sessions thing?

The chart that is the most disconcerting here is the BKX. If you look at the move out of the August 6 lows, you'll see a zig-zag (a-b-c in wave terminology) which is likely a bear flag or a rectangle that measures to about 90 on the BKX.

If the BKX is going to 90, we're likely to take out the August lows on the other indices.