Replies to post #114815 on ajtj99's Market Pulse

[ajtj99]

Difficult to tell if we close on the lows. The NDX is forming a falling wedge on the 60-min chart as we drip lower, and that's something to keep an eye on. However, I'm not real sold on it, as it is not real evident elsewhere.

Key levels I'm watching include CSCO 22.80, GOOG $480, and SPX 1334.

The indicators I'm keeping an eye on here are the slow stochs 45,17 on the 60-min chart. When they drop from overbought on the 60-min, 90% of the time they reach oversold (below the 20 level). They're at about 35 currently on the SPX, indicating we've got more work to the downside coming yet.

While I thought we'd remain above last week's 1334 SPX lows, it looks increasingly likely we will do a full test of it prior to any re-trace attempt back up.

CSCO looms tomorrow after the close.

[challo]

it was pointed out to me that my previous post wrt a bull flag forming is incorrect.

would that be a diagonal forming?

or just a shitty continuing downtrend . . . -g-

btw - thanks for the correction from the p-mail.
I cannot answer as I do not have p-mail privileges.