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Keene Little : 4/1/2007 10:38:54 PM

The primary picture I get from the charts right now is that the market should be making it clear to us within the next trading day which way it's going to head. It's perched on the edge of the cliff, from an EW perspective, for the start of another large and fast decline. If the bearish wave count is correct then we should know Monday--it needs to be a down day.

If it instead continues to waffle around or rally, especially up through the key levels I noted on the roadmap charts, then the bulls will gain traction for a potential push to new highs. As I said, we should have our answer relatively soon. While I'm leaning towards, and positioned for, the large decline, I also know where I'd rather switch than fight (that's from an old cigarette commercial). It's not a time to ignore your stops either way since we should get a big move one way or the other.

Keene Little : 4/1/2007 10:27:22 PM

End of day/week roadmaps, daily and hourly (120-min for GOOG and CME):
DOW: Link Link
SPX: Link Link
NDX: Link Link
RUT: Link Link
GOOG: Link Link
CME: Link Link
gold: Link Link

The gold charts have been included because we started following gold a little more closely since Marc and I have each been voicing our opinion as to why gold will either rally or drop. It's been a very good discussion about technical as well as fundamental reasons, all very valid reasons so I've got both the bullish and bearish wave counts on the charts with the key levels. We'll trade in the direction price takes us next. Notice how well gold has been trading its Fibs on both the daily and hourly charts.

Keene Little : 4/1/2007 10:14:19 PM

Monday's pivot tables (updated weekly and monthly as well): Link Link

Jeff Bailey : 4/1/2007 10:14:12 PM

Weekly/Monthly Index Pivot Matrix found at this Link

OI Technical Staff : 4/1/2007 9:59:59 PM

The Market Monitor has been archived.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

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