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ajtj99

02/11/04 12:40 PM

#20158 RE: jrintl #20155

CSCO 15-minute chart showing pretty clear inverse H&S patterns on all the indicators:

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

Measures to around 25.14 or so.
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ajtj99

02/11/04 12:44 PM

#20159 RE: jrintl #20155

Yes, but there are some important things happening here. BTK made a new high, RUT made a new high, SPX and Dow are near new highs, and the NDX is above the old double top at 1507. The next level of resistance is around 1519, the bottom of the first wave down. Furthermore, if the COMP remains above 2083, it's positive.

This is not easy here, long or short, JRI. Only my experience in being burned on days like today has kept me from being shaken out of positions. The bullish harami set-ups from yesterday are also in my mind.
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Jerry Olson

02/11/04 12:45 PM

#20161 RE: jrintl #20155

jri

the futures have broken out here...1144 es, 1512 nq's...
this market is not a shrt

there was a perfect CCI bullish divergnce on the NDX for a lot higher numbers maybe 1550 area...

i'd be careful leaning short here...