THE ELLIOTT DAILY MARKET COMMENTARY


Thursday's Market commentary

[8/21/2008 2:44:00 AM] <FirstWave> still a broken DJ chart, retest the break line likely
[8/21/2008 2:44:59 AM] <FirstWave> likely another positive day
[8/21/2008 2:45:12 AM] <FirstWave> DMI- signal
[8/21/2008 2:45:24 AM] <FirstWave> TSV signals
[8/21/2008 2:47:31 AM] <FirstWave> but, IBM likely to bounce tomorrow [Thursday]
[8/21/2008 2:51:41 AM] <FirstWave> RIMM encouraging for out longs from yesterday. [We3dnesday]

I am still up in the Pacific N. W. and will be checking into the markets regularly during the day.



TODAY'S MARKET, Friday, August 22, 2008.
Bounce markets of Wednesday and thursday are likely over today.
Technically we are getting sell signals for the markets for Today , Friday.

Any upside moves should see resistance at the 11,529 or 11,490 levels for the DJ-30
The SP-500 hit the SP-500, that should be the major resistance this morning.
QQQQ has a 46.97 resistance,


This market bottom call we have made this past July is NOT THE BOTTOM, in my opinion, but a oversold bounce in a down market that has plenty of road to travel in a down move yet to come. This bear market should challenge some 2000 bear market lows.

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Last update : 22-08-2008 06:09

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