Wednesday, October 24, 2012

Targets


Today was a 144TDL  with a 144TDH on Nov 1st.
We could kiss 1400 tomorrow or lower but I think next week will be up since it is EOM window dress.
Will Wall Street be open? We get that rain with Wall Street lower than sea level it's in trouble.

Jerry















Targets on the upside is 1425 and strong resistance 1433.81.
With the PC at .99 and a trin of 2.74 a rally attempt is ahead.
We had upvol of 12% so over sold.
Soon the down side target will be 1376.34    or    1370
We have a 144TD hit Thursday.



 Looking at the VIX breaking above the 54 ma shows a lot of weakness ahead, doesn't have to be tomorrow.


 200 DMA  picks the hot spot with fibs support.
Using weeks here is a possible area for the 2012 low  but on a 90 TD basis I would look for Dec 14 ish.

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