Thursday, October 20, 2005
10/20
Indices gave back yesterday's big gains. Inflation is heating up.
ES/YM/ER2 very weak and NQ held well due to strong Semi.
Looked at the 1&2 year chart of SP500, 1100-1150 and 1150-1200 are 2 boxes. It looks that SP wants to test 1150 right now.
I still belive Dow will retest 10000 and Nas retests 2000.
Check the NDX 2 years charts, looks like it'll down to support at 1500 area. If 1500 area is broken, 1400 is the next support.
http://finance.yahoo.com/q/bc?s=%5ENDX&t=2y
ES/YM/ER2 very weak and NQ held well due to strong Semi.
Looked at the 1&2 year chart of SP500, 1100-1150 and 1150-1200 are 2 boxes. It looks that SP wants to test 1150 right now.
I still belive Dow will retest 10000 and Nas retests 2000.
Check the NDX 2 years charts, looks like it'll down to support at 1500 area. If 1500 area is broken, 1400 is the next support.
http://finance.yahoo.com/q/bc?s=%5ENDX&t=2y
