Thanks, wow... the ATR is super high during the tech bubble on the $NDX. Those were the days where the $NDX would go up 80-100pts/day. I was trying to correlate last ATR peaks during the past drops. (Edit BTW - thanks, it appears stockcharts is letting me change the dates on the chart that you put up.)
BTW - yeah, I think we will get a bounce this week. The question is will it be trend changing? IMO, tomorrow may be big volume, but the rest of the week will be light volume because of the 4th of July Holiday. I just don't think it will be a meaningful enough bounce that will break the current downtrend daily line especially with the expected low volume.
FWIW- My look on the past $NDX data 1985-2007 on the last day of June/End of Month of the Quarter is 59% in favor of being up and 41% down. Pre 4th of July and Post 4th of july was an even 50/50 crapshoot. 50% chance down and 50% chance up.
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