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OI Technical Staff : 5/11/2006 9:59:59 PM

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Jeff Bailey : 5/11/2006 8:59:02 PM

I need to cut out early this evening and do some back checking with my trade blotter. Looks like something has changed a bit. Perhaps it was just AIG, but I want to see if it is something I'm doing wrong (stop/target) wise. Last night's trade isn't the "problem." Today's short at 11,548 isn't the "problem." The entry might have been, or I've got to use a wider stop. I'll be going back and looking at past trades (win/loss). All I'm doing is looking at a bar chart of the YM at this point with the pivot levels turned on. Then compare to my trade blotter (what I did entry, stop, target)

Jeff Bailey : 5/11/2006 8:41:11 PM

Current OPEN MM Profiles that I've made at this Link

Today's Activity

Added trades

Swing trade long 1/2 position in shares of North Amer. Palladium (AMEX:PAL) Link up to $11.30. Stop $10.35, target $13.25.

Swing trade put one (1) of the Marvell Tech Link MRVL Jun $52.50 Put (UVM-RX) at the offer of $2.35. Stop if the underlying shares trade $58.00, target $47.00 for the underlying shares.

Stopped/closed trades

Swing trade stopped in the underlying shares of TD Ameritrade (AMTD) Link at $18.50. ($-0.61/share, or -3.19%)

YM Futures trades

Swing trade short from late Tuesday was stopped overnight at 11,685 (-15pts, or $75/contract) Right idea, wider stop? Above MonthlyR2 was too far for my liking. I still can't believe it trade that high.

Day traded long at 11,586 (target 11,620) and was stopped at 11,570 ($-16 points, or $80/contract) Poor Trade

Day traded short at 11,548 (target 11,523), but was stopped at 11,562. Stop too tight? Target achieved.

Jeff Bailey : 5/11/2006 6:41:18 PM

YM 5-minute intervals at this Link

Note: May want to review a 15-minute interval chart where today's regular session low comes very near the apex of a triangle early morning 05/05/06.

Jeff Bailey : 5/11/2006 6:12:47 PM

Holly Corp (HOC) $79.61 -2.18% ... Announces Two-For-One Stk Split And A 60% Div Increase

DJ- Holly Corp. (HOC) Thursday said it has approved a two-for-one stock split, payable in the form of a stock dividend on June 1 to shareholders of record as of May 22.

The Dallas-based independent petroleum refiner and marketer also increased its quarterly cash dividend 60% on a post-split basis to 8 cents from 5 cents a share, or 10 cents before the stock split. The dividend is payable July 3 to shareholders as of June 22.

Jeff Bailey : 5/11/2006 5:53:55 PM

Senate Approves $70 Billion Tax Bill

Jeff Bailey : 5/11/2006 5:52:24 PM

Closing Internals found at this Link

Jeff Bailey : 5/11/2006 5:42:59 PM

TD Ameritrade (AMTD) $18.48 -3.14% ... Play was stopped out in my MM profiles today at $18.50 ... company reports April Metrics Link

Jeff Bailey : 5/11/2006 5:42:47 PM

Closing U.S. Market Watch found at this Link

June Crude settled up $1.19, or +1.65% at $73.32.

June Unleaded settled up $0.0502, or 2.31% at $2.2196.

June Heating Oil settled up $0.0317, or +1.54% at $2.0964.

June Nat Gas settled down $0.251, or -3.64% at $6.649.

TRIN almost made it to 1.45/1.48

Jeff Bailey : 5/11/2006 4:23:14 PM

Merck (MRK) $34.51 -0.46% ... ticking $34.52.

Jeff Bailey : 5/11/2006 4:20:48 PM

YM 11,542 looks to hold WEEKLY Pivot by its close.

Jeff Bailey : 5/11/2006 4:20:06 PM

MRK Company press release regarding preliminary analyses of off-drug extension of APPROVe study Link

Jeff Bailey : 5/11/2006 4:18:21 PM

Correction ... MRK has not been halted. Showing $34.52 x $34.98 now

Jeff Bailey : 5/11/2006 4:16:29 PM

Merck (MRK) $34.51 -0.46% ... halted alert

Jane Fox : 5/11/2006 4:11:52 PM

Economic Reports tomorrow are
8:30a.m. March Trade Deficit. Consensus: -$67 Bln. Previous: $65.7 Bln.

8:30a.m. April Import Prices. Consensus: +1.2%. Previous: -0.4%.

9:45.m. Mid-Month U. of Mich. Consumer Sentiment Index. Consensus: 86.5. Previous: 87.4.

Jane Fox : 5/11/2006 3:43:58 PM

The $RUT ad line has deteriorated to 153/1539 (0.09%) from 191/1504 (0.12%) at 2:30

Jeff Bailey : 5/11/2006 3:36:57 PM

Coincidence only that Mr. Cramer just mentioned MRVL.

Jeff Bailey : 5/11/2006 3:36:11 PM

Swing trade put alert for one (1) of the Marvell Technology MRVL June $52.50 puts (UVM-RX) at the offer of $2.35.

MRVL $54.01 -3.57%

Jeff Bailey : 5/11/2006 3:21:58 PM

03:00 Internals found at this Link

Jeff Bailey : 5/11/2006 3:04:20 PM

03:00 Market Watch found at this Link

Jeff Bailey : 5/11/2006 2:58:28 PM

YM 11,522 ... WEEKLY Pivot alert

Jeff Bailey : 5/11/2006 2:56:47 PM

BIX 384.00 -1.33% ... session lows and 19.1% WEEKLY Pivot retracement.

Jeff Bailey : 5/11/2006 2:51:13 PM

I wanted to see if it could get back above its WEEKLY pivot ($11.09) this week and it has today.

Jeff Bailey : 5/11/2006 2:49:48 PM

Disclosure ... I held some PAL for a couple of months in my IRA.

Jeff Bailey : 5/11/2006 2:49:01 PM

Bullish swing trade long alert for 1/2 position in North American Palladium (AMEX:PAL) $11.26 +6.12% here, LIMIT $11.30, stop to begin is under $10.50.

Jeff Bailey : 5/11/2006 2:40:58 PM

Apple Computer (AAPL) $68.48 -3.00% Link ... has pulled into the "apex" of the bullish triangle pattern.

the midpoint of Dorsey's 10-week trading band is $67.

Sector is COMPuter and turned "bull confirmed" back in January at 48%. Current measure is 46.35%.

Jeff Bailey : 5/11/2006 2:34:32 PM

OI Newsletter Plays at this Link ... Hey! OMC ... sector bullish % is MEDIa

Jane Fox : 5/11/2006 2:29:03 PM

Egads the $RUT ad line is 191/1504.

Jeff Bailey : 5/11/2006 2:24:38 PM

Baidu.com (BIDU) $85.50 +1.80% Link ... I'm "glad" I tried to short it back in March and Ameritrade told me they didn't have any more stock to loan out.

That gave me the "feeling" we'd better close out the short.

Jeff Bailey : 5/11/2006 2:17:11 PM

YM ... now a 30-minute interval chart at this Link

Jeff Bailey : 5/11/2006 2:08:39 PM

NYSE a/d is 763:2438

NASDAQ is 661:2361

VERY "oversold" looking to me.

Jeff Bailey : 5/11/2006 2:07:05 PM

YM ... claws its way back to 11,551 after session low of 11,528

Jeff Bailey : 5/11/2006 2:02:49 PM

MRVL ... Dorsey/Wright sector bullish % association is SEMIconductor

Sector is still "bull confirmed" status at 61.73%. It would take a measure of 60% to reverse back lower to "bull correction" status.

Jane Fox : 5/11/2006 1:49:19 PM

Dateline WSJ And here you thought the corporate voodoo of the pre-Enron era had been exorcised. But no, even after several celebrated white-collar trials and Sarbanes-Oxley, the issue of options backdating still walks the land.

UnitedHealth today became the latest company to acknowledge problems with the way it administered its stock-option grants, saying it may have to take charges that could reduce the past three years' net earnings by $286 million. That depends on the outcome of an internal review. And, by the way, the Securities and Exchange Commission has launched an informal investigation.

The question is whether UnitedHealth Chief Executive William McGuire was really lucky when he received options grants in 1997, 1999 and 2000 that were all dated on the stock's lowest closing price of the year -- or was something else afoot?

Jeff Bailey : 5/11/2006 1:45:51 PM

Marvell Tech (MRVL) $54.19 -3.23% Link ... also testing its 200-day SMA Link

Jeff Bailey : 5/11/2006 1:37:28 PM

Swing trade stop alert on the 1/2 bullish position in TD Ameritrade (AMTD) $18.50 -2.98% ...

Jeff Bailey : 5/11/2006 1:35:19 PM

All equity sectors now in the red. HUI.X -0.02%

Jeff Bailey : 5/11/2006 1:23:19 PM

When I get "frustrated" with my trading, its when I feel like I was correct with my analysis, but proved wrong by where I set my stops. I'll make the correction, but only after I review my errors.

I see things as out of the last three trade, I was "right" on 2 (both YM shorts), but wrong on the long.

My confidence doesn't get damaged, I just need to make the adjustments.

Jeff Bailey : 5/11/2006 1:20:04 PM

YM 11,538 ...

Jeff Bailey : 5/11/2006 1:19:16 PM

TD Ameritrade (AMTD) $18.55 -2.77% ... stop is firm at $18.50.

Jeff Bailey : 5/11/2006 1:16:34 PM

01:00 Internals found at this Link

Jeff Bailey : 5/11/2006 1:02:51 PM

01:00 Market Watch found at this Link

Jeff Bailey : 5/11/2006 12:57:24 PM

YM bearish stop alert ... 11,562 ... and I need to stop for the day.

Jeff Bailey : 5/11/2006 12:54:37 PM

TRIN 1.15 ... high reading has been 1.17

Jeff Bailey : 5/11/2006 12:54:18 PM

YM ... 11,553

Jeff Bailey : 5/11/2006 12:49:19 PM

YM 11,549 ...

Jeff Bailey : 5/11/2006 12:45:10 PM

YM 11,553 ... want it back under 11,550 on some 5-minute bar closes again.

Jeff Bailey : 5/11/2006 12:38:21 PM

One equity index in U.S. Market Watch is green ... HUI.X

Jeff Bailey : 5/11/2006 12:37:07 PM

YM low so far 11,453 after bear entry

Jeff Bailey : 5/11/2006 12:36:42 PM

No... YM 11,556

Jeff Bailey : 5/11/2006 12:33:44 PM

TRIN 1.12

Jeff Bailey : 5/11/2006 12:33:23 PM

YM short alert 11,448

Jane Fox : 5/11/2006 12:33:04 PM

Dateline WSJ After Hurricane Katrina hobbled economic growth late last year and as oil prices soared, many investors thought the economy, corporate profits and the stock market would be running on empty by now.

Instead, an economic rebound has sent corporate profits to an 11th consecutive quarter of double-digit gains, the longest streak since at least the 1950s. Surprisingly strong growth in the economy and corporate profits has shaken stocks out of their doldrums. The Dow Jones Industrial Average is now within sight of its record close.

Unlike the great 1990s bull market, which was sustained by a wave of new technology, this one has the feel of an old-fashioned economic boom, the type investors saw in the 1950s and 1960s. What many thought would be a limited rebound created by Chinese industrial demand has turned into a long-running story as once-unloved sectors such as commodity producers and oil drillers continue to thrive. Helping fuel the U.S. stock surge are once-skeptical investors, who are now funneling money into the market in the hope of getting in on a lengthier boom.

Jeff Bailey : 5/11/2006 12:31:39 PM

YM short setup alert ... go short on a trade at 11,548, stop 11,562, target 11,523

Jeff Bailey : 5/11/2006 12:26:17 PM

UTStarcom (UTSI) $6.97 -3.99% alert ... Announced this morning that co-founder and COO is "calling it quits" and will stay on until the end of the year.

Last month, then acting COO Mike Sophie said he was quiting and left the company last week.

I smell a rat(s) alert!

Jeff Bailey : 5/11/2006 12:19:31 PM

YM 11,554

Jeff Bailey : 5/11/2006 12:19:19 PM

This last 10-minutes (see 5-minute YM bar chart closes) is first sign today that buy side computers are trying to dig in.

Jeff Bailey : 5/11/2006 12:12:10 PM

Dow 30 Components at this Link

Jeff Bailey : 5/11/2006 12:04:13 PM

The OEY-EB are bid/ask $0.25 x $0.30 with OEX 596.51 (again... QCharts' option bid/ask not that accurate)

Jeff Bailey : 5/11/2006 12:02:41 PM

BIX 387.11 -0.53% ... undercutting yesterday's lows.

Jeff Bailey : 5/11/2006 12:01:32 PM

dx00y 84.37 (30-minute delayed)

Jeff Bailey : 5/11/2006 12:00:57 PM

pretty notable reversal back LOWER in the dollar (alert)

Jeff Bailey : 5/11/2006 11:59:39 AM

Current OPEN MM Profiles found at this Link

Jeff Bailey : 5/11/2006 11:54:14 AM

Checking my trade blotter ... never have traded the YM in the 11,500-11,600 area.

Jeff Bailey : 5/11/2006 11:52:18 AM

"Pattern" so far is ... once below a DAILY Pivot level, then NEVER above. Once below, then NEVER above. Once below, then NEVER above.

Jeff Bailey : 5/11/2006 11:49:53 AM

YM 2-minute interval chart Link

Jeff Bailey : 5/11/2006 11:37:03 AM

EIA Weekly Nat Gas Storage report Link

Jeff Bailey : 5/11/2006 11:32:14 AM

YM 11,568 ... MONTHLY R1 ... don't need to try and pick the day low at this point. Already thought that was found just under 11,583.

Jeff Bailey : 5/11/2006 11:29:54 AM

Valero (VLO) $65.03 -0.30% ... reverses gains

Jeff Bailey : 5/11/2006 11:29:09 AM

Now that's a "drag" for sure.

Jeff Bailey : 5/11/2006 11:28:43 AM

QQQQ under WEEKLY S2

Jeff Bailey : 5/11/2006 11:27:58 AM

11:00 Internals found at this Link

Jeff Bailey : 5/11/2006 11:22:42 AM

Internals are coming ...

Jeff Bailey : 5/11/2006 11:22:07 AM

???? I'm showing it already traded 11,568.

Jeff Bailey : 5/11/2006 11:21:26 AM

YM stopped alert 11,570

Jeff Bailey : 5/11/2006 11:07:30 AM

YM long entry alert ... 11,586, stop 11,570, target 11,620

Jeff Bailey : 5/11/2006 11:04:31 AM

11:00 Market Watch found at this Link

Jeff Bailey : 5/11/2006 11:02:07 AM

YM order cancel alert ... for entry at 11,598 at this time.

Jeff Bailey : 5/11/2006 11:00:22 AM

YM 11,576 ... re-testing session low. MACD on 2-minute still possibility for "bullish divergence"

YM didn't trade entry point for bull of 11,598 (per 10:50:37) setup.

Jeff Bailey : 5/11/2006 10:53:56 AM

YM 11,582 TRIN 1.03

Jeff Bailey : 5/11/2006 10:53:39 AM

TRIN 1.02 ... YM made low of 11,576.

Jeff Bailey : 5/11/2006 10:51:44 AM

BIX 388.61 -0.15%

steepening curve today.

Jeff Bailey : 5/11/2006 10:50:37 AM

YM long setup alert ... go long on a trade at 11,598, stop 11,577, target 11,630.

Just one contract.

Jeff Bailey : 5/11/2006 10:47:55 AM

YM 2-minute chart Link

Jeff Bailey : 5/11/2006 10:45:46 AM

YM 11,586 ... "the trap" intra-day? Will computers "snap it up" to close above DAILY S2? Show me a sign that "buy side" computers turning on.

Jane Fox : 5/11/2006 10:45:02 AM

March business inventories 0.7%, sales 0.7%,

Retail inventories -- the only unknown -- rose 1% as autos jumped 1.7%. Mfg rose 0.7%, wholesalers 0.2%. 4.2% yoy.

Sales rose 0.7% given 0.6%-0.8% gains among the three components. 7.7% yoy.

The inventory/sales ratio held at 1.26 months after the record low 1.25 months in January. The lack of a turn higher in the I/S ratio suggests comfort at these levels and less inventory rebuilding than largely expected.

Jeff Bailey : 5/11/2006 10:44:18 AM

If I go long YM here, my stop would be below 11,583.

2-minute MACD is -10, low reading -13.74

Can only "target" a YM back to 11,632 at this point. Right?

Jeff Bailey : 5/11/2006 10:41:48 AM

TRIN 0.97 ... YM 11,600

Jeff Bailey : 5/11/2006 10:39:10 AM

trin 0.93

Jeff Bailey : 5/11/2006 10:39:01 AM

YM 11,593 alert ...

Jeff Bailey : 5/11/2006 10:38:18 AM

Valero (VLO) $65.78 +0.84% ...

Jeff Bailey : 5/11/2006 10:37:54 AM

HOC $81.16 -0.28% ...

Jeff Bailey : 5/11/2006 10:37:02 AM

Just got filled on "sell long" 2 of the HOC-QP in my personal account.

Jeff Bailey : 5/11/2006 10:35:50 AM

TRIN 0.90 ... thinking 1.00 and YM 11,593 ...

Jeff Bailey : 5/11/2006 10:32:44 AM

OK ... look at a 2-minute chart of the YM, turn on your MACD.

We'll play the game of "undercut" and "overshoot" relative lows and highs.

Setup is for YM to make another dart lower to DAILY S2, but on the very short time-interval of 2-minutes, MACD show some type of bullish divergence.

If you're short the YM and not covered, that might be what you look for too.

Jeff Bailey : 5/11/2006 10:30:34 AM

If I learned on thing last night... even though you "know" their will be basket selling/buying based on a heavyeight trading lower/higher at the morning cash open, overnight traders aren't thinking about that.

Jeff Bailey : 5/11/2006 10:27:37 AM

TRIN 0.85

Jeff Bailey : 5/11/2006 10:27:04 AM

AIG $63.79 -4.13%

YM 11,614 with low so far 11,608. You can see this stuff, I'm just thinking out loud/testing. Still not coming together for a bull entry

Jeff Bailey : 5/11/2006 10:16:44 AM

TRIN 0.83

Jeff Bailey : 5/11/2006 10:16:35 AM

YM 11,621

Jeff Bailey : 5/11/2006 10:16:19 AM

AIG $63.96 alert ... WEEKLY S2.

Jeff Bailey : 5/11/2006 10:13:13 AM

Let's be ready to look long the YM 11,583-11,593

Jeff Bailey : 5/11/2006 10:11:51 AM

TRIN 0.81 ...

Jeff Bailey : 5/11/2006 10:11:08 AM

YM 11,622 ... low has been 11,608

Jeff Bailey : 5/11/2006 10:10:16 AM

AIG $64.23 -3.47% ... did trade WEEKLY Pivot $65.19 and sets up for test of WEEKLY S2.

"basket selling" of dow components might abate if AIG trades $63.99. (thinking the scenario)

Jeff Bailey : 5/11/2006 10:07:18 AM

10:05 Market Watch found at this Link

Jeff Bailey : 5/11/2006 9:53:59 AM

YM 11,622 ... idea we're going DAILY S2. TRIN "supposed" to have been 1.26 at DAILY S1 right?

Jeff Bailey : 5/11/2006 9:53:07 AM

YM 11,621

Jeff Bailey : 5/11/2006 9:52:39 AM

TRIN 0.77 ... now this doesn't make sense.

Jeff Bailey : 5/11/2006 9:50:34 AM

YM 11,632 ... let's let it "trade the level" and see if it will firm. While stopped out of short overnight, my target to cover "achieved."

Jeff Bailey : 5/11/2006 9:39:04 AM

YM found at this Link

Jane Fox : 5/11/2006 9:21:48 AM

By the way not sure any of you noticed but Oil hit 73.50/barrel overnight. The market didn't seem to notice so obviously this price has been factored in already.

Jane Fox : 5/11/2006 9:18:39 AM

DAteline WSJ UnitedHealth Group Inc., becoming the latest company to acknowledge problems with the way it administered its stock-option grants, warned that it might have to restate past results, lose some valuable tax deductions and take charges that could reduce the past three years' net earnings by $286 million.

The giant health-care company also disclosed in its first-quarter filing with the Securities and Exchange Commission that is the subject of an "informal" SEC inquiry into its stock option granting practices.

Jane Fox : 5/11/2006 9:16:40 AM

Dateline WSJ Retail sales climbed during April as motorists paid more at the pump, but demand at outlets other than gasoline stations was weak.

In a separate report, the Labor Department said initial weekly jobless claims remained high last week, falling 1,000 to 324,000.

Retail sales increased by a seasonally adjusted 0.5%, the Commerce Department said Thursday. Sales rose an unrevised 0.6% in March.

The median estimate of 23 economists surveyed by Dow Jones Newswires and CNBC was a 0.8% increase in April retail sales, a closely watched gauge of how people in the U.S. spend money.

Gas station sales surged by 4.6% last month after remaining flat in March. The increase, driven by rising gasoline prices, was the largest since 6.0% in September 2005. Stripping away sales at gas stations, demand at all other retailers inched up last month, rising just 0.1%.

Consumer spending is a pivotal part of the equation used to figure out how the economy is faring. Spending makes up about two-thirds of gross domestic product. April auto and parts sales decreased by 0.4%, after rising 1.0% in March. Outside the auto sector, all other retail sales rose by 0.7%. Economists expected a 0.9% increase.

Jeff Bailey : 5/11/2006 4:45:22 AM

OK ... off to bed. For real this time. I wanted to grab some of this stuff. Perhaps an article on what to look for when trading pivot levels.

Jeff Bailey : 5/11/2006 4:42:49 AM

during the day, time and sales go by so quickly.

Jeff Bailey : 5/11/2006 4:42:07 AM

I rarely watch time/sales. But in an evening trade, the t/s observation gives us a sense how trade volume "picks up" as WEEKLY and MONTHLY levels find trade.

Jeff Bailey : 5/11/2006 4:39:46 AM

YM at 04:34:48 AM EDT Link ...

Jeff Bailey : 5/11/2006 4:32:26 AM

YM now 11,691 after trading 2 contracts at 11,695.

Jeff Bailey : 5/11/2006 4:31:49 AM

YM 27-minutes later Link

Jeff Bailey : 5/11/2006 4:26:10 AM

When the YM isn't ticking by at 100-miles per hour ... here's a 10-minute interval chart of YM this evening and how a pivot level trader that is WATCHING trade and trying to figure out what computers are doing, then mirror that trade for profits will look/analyze things. Link

Jeff Bailey : 5/11/2006 3:50:30 AM

In the future, should I profile a YM long/short overnight, do not count on me to type stop/target alerts. I knew I had a long night ahead of me tonight.

Still, I thought the MARKET, even when it is supposed to sleep, wouldn't have the YM here.

I still believe there will be some type of artificial "basket selling" into/during/just after the cash open.

If so, then will look to buy at lower levels.

Will see where the overnight "computer level" is (computers don't sleep) and go from there.

At most, I would have thought YM trade 11,682, computer turn on to sell there. Not a "flush" overnight, but turn the computer on to begin distributing back lower.

Jeff Bailey : 5/11/2006 3:43:48 AM

Will pick up in the morning ...

Jeff Bailey : 5/11/2006 3:42:43 AM

YM I was going to go to bed, here's what is taking place Link

Jeff Bailey : 5/11/2006 3:38:54 AM

YM short stop alert 11,685

Jeff Bailey : 5/11/2006 3:16:55 AM

(dx00y) 84.92 (30-minute delayed) is up 0.49% from 03:00 PM EDT close.

Money coming out of Japan, into U.S. Dollar?

To buy what?

Jeff Bailey : 5/11/2006 3:14:31 AM

YM 11,680 ... +1 ....

Jeff Bailey : 5/11/2006 3:13:56 AM

Nikkei 225 down 89.79 points at 16,862.

Jeff Bailey : 5/11/2006 3:11:43 AM

I'm off to bed!

Jeff Bailey : 5/11/2006 3:10:20 AM

Index Pivot Matrix for tomorrow at this Link

OK ... my "scenario" for shorting the YM (dow $5 futures) was the thought that a lower AIG open would have computers doing so "artificial selling" to get things re-weighted a bit.

So, using the CASH (INDU/DIA) DAILY Pivot levels and TRIN pivot levels, what is a test?

BASKET selling in the INDU/DIA will have some focus on NYSE-listed stocks. The TRIN is NYSE-related. If I'm correct in my scenario, and basket selling takes place at the open, the TRIN should RISE quickly in the first 5 to 10-minutes of trade. Say... 1.26 . A computer might be instructed to apply enough "basket selling" equal to TRIN 1.26, then stop applying the pressure.

That type of sell-side pressure might have the INDU/DIA then re-weighted (to compensate for an AIG open of $64.25 ... remember, AIG's WEEKLY S2=$63.99 and WEEKLY S1=$64.59)

Now ... suppose computers then get "exhausted" of selling at TRIN 1.26 and then ease off. TRIN either edges back toward DAILY Pivot = 1.00 (remember your waterline? 1.00 is "neutral")

So... My YM Bear target is just above YM DAILY S1 (YM S1 should be close-to-equal to INDU/DIA S1).

I show tonight's dx00y trade in its DAILY Pivot.

QQQQ and SOX.X lows show the "drag" the SOX.X is having. QQQQ pegs WEEKLY S1, probably keeps SOX.X from trading WEEKLY S2 on Wednesday.

See the SECTOR/MARKET tie?

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