2= 6May08 Index Analysis
P= rice action of the indices is suggesting that lower prices are still to come. The Dow has reached is 50% Fibonacci level, which may represent a buying opportunity, but the other indices are far from their 50% Fibonacci levels.=
&= nbsp;
O= verall we remain bearish on equities.
&= nbsp;
I= nter-market analysis is suggesting a possible bounce in the equities markets with the U= .S. dollar looking to strengthen commodities overbought, and interest rates ranging.
&= nbsp;
M= arket Internals are pointing to a lower Equities markets.
&= nbsp;
&= nbsp;
&= nbsp;
&= nbsp;
<= span style=3D'mso-spacerun:yes'>Â Â
|
|
|||
|
|
Screen clipping taken: 27/05/2008, 6:54 PM
|
||
|
|
Instrument: $INDU View: Bullish (only if 2day support holds at key level) Key Levels: 13125, 12500, 11875 Strategy: Buy limit @ 12500, Target =3D 12812.50 |
||
|
|
|
|
|||
|
|
NDX |
||
|
|
Instrument: NDX - Nasdaq 100 View: Bearish (more down movement to come) Key Levels: 2062.50, 1875 Strategy: Sell limit @ 2062, Target =3D 1875 |
||
|
|
|
|
|||
|
|
SPX |
||
|
|
Instrument: $SPX View: Bearish Key Levels: 1437, 1406, 1375, 1343 Strategy: Sell limit @ 1406, Target =3D 1343 |
||
|
|
|
|
|||
|
|
RUT |
||
|
|
Instrument: RUT View: Bearish Key Levels: 750, 718.75, 678.5 Strategy: Sell limit @ 750, Target =3D 687.50 |
||
|
|