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ajtj99

01/27/03 8:02 PM

#68896 RE: ajtj99 #68874

TRINQ appears to be neutral right now. It consolidated and says we could bounce or we could drop like a rock from the open tomorrow.

Most of the charts I looked at tonight support another 2-hours of down early tomorrow AM, so that would be what I'd be on the lookout for at least initially.

If TRINQ opens below 1.0 tomorrow, it should indicate a trend reversal and at least an oversold bounce with possibly 30-COMP points potential. If it does not open below 1.0, I would expect a drop in the COMP to around 1300 during the morning.

A gap down would probably get us a TRINQ above 1.0 at the open and bring additional selling as support on the NDX at 982 (possibly even 977) and COMP 1319 would be breached.