Keene Little : 1/14/2008 12:41:15 AM
Monday's pivot tables: Link
Using the daily charts I wanted to show what I believe are the potential setups for this week. Basically I see the possibility for a relatively minor new low on Monday before rallying or else we'll continue rallying right away. If we get the new low then I'll be looking for a bottom to get long. If we start rallying right away then pullbacks will provide the buying opportunity.
If we get the pullback first then the DOW should find support around 12400. If it drops much lower than that I would not be interested in the long side until perhaps 12200. Link
. Same pattern for SPX. If we get a new low I would expect support around 1370: Link
If the bounce in the COMP and RUT continues right away on Monday it actually could be more bearish sooner than if it drops a little lower first and then bounces:
OI Technical Staff : 1/13/2008 9:59:59 PM
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