xjo easter zoomba lounge, page-106

Tonight the trader aspect of the individual will be looking for a new high, perhaps up to 1575 then a retreat. 1/8th extension of rally 09 low to Sept 12 high is 1575 and change. 07 top is 1576 and change. This level should get a reaction first time hit. The extent of any downmove would need to be assessed in real time.

That 161.8% level on the DJIA (from the tech wreck bear range) 'should' continue to work into the immediate future. I wouldn't say it is finished with yet.

The trader just wants to steal a few points to the downside. Not after a new bear trend or a year high, just 10 or so points. 20 would be nice.