Replies to post #12789 on Market Sense and Sentiment (MKTSS)

[bbgold]

SMAs still Support, for now
Watching DIA Apr 81 Puts near $1 but we still do not have a failure of the SMA support. Just as this Up move took a couple of days to develop and exhaust the resistance it would indeed be safest to wait for the SMA support to be exhausted. It all depends on how much risk one is willing to take without waiting for confirmation of the loss of support. Yesterday we were at resistance but the retest of support Held support. That might continue here, maybe. Fair Value theory would have a breakout moving back to these levels as support though. Right? :^)

[was Steve]

HI Bernard, my thoughts
steve

Short term view: 4/2/03 evening update.

from last week:
(highs were to be in by no later than april 4th.
I have scaled these back to 1122 for ndx from 1155, 1425 from 1467 and 913 from 925. I am starting to think that not even these will be met. Today is pretty key.)

modifications to last weeks notes:
whomping rally today. sure wish i stuck around in my long fund. Apr 4th is still reasonable, but it may need to be extended to the 9th (3 more market days) just to be sure. i am fully expecting another big rally day on friday. tomorrow(trs) should be pretty small candle (small up or down). we may bouce around a bit after next big rally on friday or head straight down. in case we fart around at the highs i have allowed until the 9th for this. no reason top couldn't be in by fri close though.

as for targets, i am ratcheting ndx down a bit more to 1110 and spx to 910, but raising nas to 1435.