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Keene Little : 9/24/2007 1:19:27 AM

Monday's pivot tables: Link and Link

Keene Little : 9/24/2007 12:42:09 AM

GOOG stopped at a Fib projection at 560.25 where it has two equal legs up from the August low. If the bounce is to be just a correction of the July-Aug decline then this is a natural place to see the bounce fail and for the stock to start heading back down. But if heads higher then keep an eye on the trend line along the highs of November 2005 and July 2006, currently near 572: Link

If it pulls back correctively (overlapping sideways/down kind of consolidation) then it would give us a clean 5-wave move up from the August low and have an upside target around 580 by mid-October. A break below 530 would be confirmation that we've probably seen the high.

CME still looks more immediately bearish. Following the early September low the bounce looks like a correction of the decline from the September high. The wave count looks very bearish for this stock with a 3rd of a 3rd wave down due next, and that should mean some strong selling is right around the corner. The only question is whether it starts to sell off from here or after another bounce to near 560 first. Link

Keene Little : 9/24/2007 12:08:21 AM

While the upside projections for SPX are at 1548 and then 1567, the DOW's Fib projections are not quite as high--14016 and then 14186: Link

The RUT has a price projection to 833 which matches the top of its parallel up-channel for price action since the August 16th low: Link

All these upside price projections are predicated on Thursday's lows holding. If those lows get taken out then the pattern turns potentially more bearish sooner.

Keene Little : 9/23/2007 11:56:15 PM

By the price depiction on the chart you'll see that I'm only talking a very short term trade on the long side before setting up what I hope will be an outstanding short play maybe on Tuesday (or as early as Monday afternoon).

Keene Little : 9/23/2007 11:54:29 PM

We left off on Friday with a good setup for a rally and I had suggested a long play against last Thursday's lows. This SPX 60-min chart was posted at the end of the day on Friday to show the setup: Link . Now all we need is follow through on Monday and with the futures up Sunday night we just might get it (as long as Europe doesn't have another run on a bank or something like that).

OI Technical Staff : 9/23/2007 9:59:59 PM

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