abt.plenty of upside counts to 60-67 area.however,something nasty brewing.a downside count of 51.also the last signal was a double-bottom.need to see what the reaction is at 55 support area
nas 100.there are opposing counts .so no confirmed long term targets as yet.no big moves from the top that have not been negated .market will take its time on this one.it should follow thru the s&p 500.i think,eventually
another trader posted about relative strength.before i went on vacation. one thing about relative strength.it must have a look back period.ie rel strength from 03 jan 2008,etc another thing about relative strength.some stocks ie utilities,oil producers etc, follow the oil price and the relative strength should be calculated against the oil price.use an etf for this not all the stocks should have relative strength based against an index,that the oil price must be included in the chart.i nearly got caught out on this recently. i was looking to go long on drax power,watching it to go long after the early morning shakeout.the stock gapped down 8% after a brokers note saying the stock was only strong because of the oil price...beware