10.29.2008

THE NUMBERS


The chop continues as the SPX hit its head at/near the previously mentioned 50% retrace at 942 - and the chop probably continues through the day.


Gaming, metals, oils and ags still leading while real estate, reits, financials and semis lag.


Market internals still flattish on the NYSE/NAZ while the OEX/NDX are a hair to the red side.


RSI (2) levels:


SPX 70

DJIA 78

RUT 65

QQQQ 70


Back to the retracements, the XLE seems to have a target near the current quote with a high of 57 and a low of 38.


The QQQQ at 32 with a top of 36 and a low of 28.


The DJIA seems to be fighting at the 38.2 retrace (9,100) and well above the 9800/7900 50% retrace level at 8850.


Just wondering how this guy is holding up in light of the current real estate issues;


VIX + MORE on the FEAR;


What would Roubini do?


And accroding to one of the better pollsters- the race may be tightening just in time.


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