The DOW is still channeling.  The ADX shows the trend to be without further impetus.  Overhead resistance is strong and even with extaordinary volume on Friday, the best that we could do was a “Spinning Top” at the lower end of the range.  I think that the index is getting ready to pullback.  The first clue would be if it broke 10,170.  There are several swing highs and lows that could act as targets if the DOW began to retrace.  The primary downside target is 9100.  I really feel that the next 1000 points to the upside are going to be tough to achieve. 

The SPX tells a similar story as the DOW.  The downside target is 850-950 if the index breaks down.  We are stalled out to the upside from the consolidation trading from 2004 at the 1125-1175 level.  Should the index break through that area, the next target would be 1325.

The COMPQ could retrace to 2025-2050 if it breaks down out of the current channel.  The upside target is 2375 – 2550.  Stay nimble and follow the market.  When the indexes break out of their sideways trading (and they will)  be ready to take advantage because it should be a good move.  I am inclined to think that the move will be down in a correction.  Keep in mind that healthly markets correct so let it do what it is going to do and be there to profit.  Robin

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