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Marc Eckelberry : 7/17/2006 2:58:47 AM

We might get back in.

Marc Eckelberry : 7/17/2006 2:58:19 AM

Phillips semi numbers were good, thus the bid in techs. Link

Marc Eckelberry : 7/17/2006 2:43:28 AM

Take it and run.

Marc Eckelberry : 7/17/2006 2:43:13 AM

NQ Exit Point Alert -
+3

Marc Eckelberry : 7/17/2006 1:31:17 AM

It might be all we get out of this range.

Marc Eckelberry : 7/17/2006 1:28:38 AM

Those who want to pocket 2.5 do so now.

Marc Eckelberry : 7/17/2006 1:27:49 AM

NQ Exit Point Alert -
Long 1474, raise the stop to 1473.

Jeff Bailey : 7/16/2006 11:03:28 PM

YM Pivot Matrix found at this Link

YM 15-minute interval chart found at this Link

Jeff Bailey : 7/16/2006 11:02:22 PM

Index Pivot Matrix found at this Link

Keene Little : 7/16/2006 10:57:39 PM

ES and YM are sporting similar consolidation patterns after Friday morning's drop. ES slants a little more to the upside than YM but they both appear to be in a 4th wave correction in last week's decline. My best guess is that we're going to see a little more choppy price action, possibly a little higher for ES than YM and then another leg down before we get a bigger correction into the end of this opex week.

YM is consolidating in a flat pattern and by its internal wave structure (3-wave moves up and down) it looks like it's building a sideways triangle and if true should see price move on Monday as depicted here: Link

ES appears to be consolidating in more of an ascending wedge but appears to need the same amount of additional moves to complete the pattern. These tend to go longer than expected but I'm thinking we could be set up for the next leg down after lunch on Monday: Link

Therefore Monday morning could be difficult to trade (lots of chop and whipsaws and relatively small moves) but once we get the final move up in these patterns (wave-e), it would be a good setup for a short play. Perhaps we'll get another 100-pt YM move to the downside and then it'll be time to play the long side for a bounce back up.

Marc Eckelberry : 7/16/2006 10:42:33 PM

30 and 60 mn rsi heading higher so we will try a ride to 30 mn upper.

Marc Eckelberry : 7/16/2006 10:09:02 PM

Ususally, if the lows at this time do not hold, then we are setting up for a gap down open. But if they do hold, we get a bid that will hit stops and maybe nail a few points.

Marc Eckelberry : 7/16/2006 10:07:33 PM

NQ Entry Point Alert -
Long 1474, stop 1472.

Keene Little : 7/16/2006 10:07:30 PM

Monday's pivot tables: Link and Link

Marc Eckelberry : 7/16/2006 10:06:55 PM

The current high is 1477, which is the overnight low from Thursday. Resistance and many stops to hit above. We play the game?

Marc Eckelberry : 7/16/2006 10:02:02 PM

Keep in mind that we have s1 at 1464/1465, which is also the 50% June projection. I would not be suprised to see that hit, and if it with a divergence, we try it. But there could be an overnigt pre-entry. Watching some indictaors and I might put in a trade.

OI Technical Staff : 7/16/2006 9:59:59 PM

The Market Monitor has been archived. You may view it and any previous days here: Link

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Jeff Bailey : 7/16/2006 9:04:06 PM

YM 15-minute interval chart at this Link

Jeff Bailey : 7/16/2006 8:50:43 PM

YM Pivot Matrix for Monday found at this Link

Jeff Bailey : 7/16/2006 8:40:02 PM

Index Pivot Matrix found at this Link

Marc Eckelberry : 7/16/2006 2:44:05 PM

The conflict as it relates to the markets is being completely hyped out of proportion. There will be no all out war for the reasons I outline here: Link
Bull/bear ratio is at the lowest since early 2003.

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