I was still thinking it is possible for us to follow the inverse head and shoulders pattern seen on the NDX and form the right shoulder.The NDX recently came 5 points away from the 61.2 Fib retracement(932.8) and is moving up.Your thoughts?
Your calls have been spot on...I was just wondering how you might have thought FA might have changed the TA...I've got my answer, thank you. Will continue to be wary of being long, and will hold puts (KLAC). Thanks again
zeev, i am in agreement that a quality low has yet to be put in per my composite sentiment indicators. doesn't mean fri. ramp can't continue somewhat but i think the odds are very high we're going much lower. as a point of reference, the july and oct bottoms had readings of 37 and 36 respectively( scale says higher=more negative sentiment); fridays reading was 16( 15 thurs.), so imho, the fear of missing the next "bull" is still the prevalent sentiment. LEON
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