actio-et-reactio
Balance is but a brief transition between extremes.
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Tuesday, April 02, 2002
Tuesday comments
The swing up Monday was completely balanced (ha ha, more like destroyed) by the swing back down today, leaving the NDX at the 1410 support (off by just a few sheckels). However, this is "dark side" support as it is in the shadow of 1452, the most critical pivot of the 1089:1734 rally being unwound. Next support: 1399 (which is also the 123.6% retrace of the short rally, shown in the 15m NDX chart below). BTW, 1411 is somewhat of a minor support and is itself midway between 1399 and 1421, so I anticipate a deadcat bounce, perhaps as high as 1437 (which is somewhat near the fushia Median Line on the 15m chart).
Labels: market-calls-dated
At last, over the rim
of the waiting earth
the moon lifted with
slow majesty
till it swung clear of the horizon and rode off,
free of moorings
- Kenneth Grahame,
The Wind in the Willows
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