Tuesday, September 13, 2005

Near Term Targets

Per EWT

Upside Dow near 10,770 looking for a drop beneath 10,500 area for more evidence top is in for this move.

SPX near .618 FIB from entire bear mkt losses, another 12 pts roughly.

NAZ looking for 2200 area, has lagged DOW, no divergence yet in momo.

If OIL continues to fall, I expect profit taking on alternative energy stocks.

A reading tomorrow of WEAK retail sales could rally bond prices.

FED policy unchanged could roil markets next week, where I am looking for top.

D

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