Pabs,
Since we are short term overbought and the market appears to be weakening I would say least resistance is down. We hit the 1900 level as I suspected, now there is no news to drive markets either direction. The holiday period is typically strong so my guess at this point is we head lower. We do have an oppurtunity to go higher in the next day or so, but technicians see the weakness and will sell into rallies. This was evident today early, up then sell off.
The semis were on the verge of strengthening, but the DJI was already exhausted thats why we have seen the NAZ a little stronger than DJI. Will the semis strengthen further that will tell you if we head higher.
ACH is bullish.....
[ September 20, 2004, 06:33 PM: Message edited by: Amkeer ]