March 15, 2005: TD

After close analysis:

Yep, the gap up open was a fake and market continued to bleed to the downside all day. NQ getting scary with the dbl. hump (ala 2000?)... Nice couple of shorts especially the 6bo. Market setting up for a major move tomorrow. I'll be keeping a close eye on NQ, this will be key.

Market breadth was negative all the way with Vold, Add, and Addq trending down. All 3 have -ve xover.

Futures also were weak with NQ opening below its ema. AB spent morning above emas but soon consolidated and broke below it. This was an excellent entry point for a short (spot marked by a circle) which was confirmed by Addq. ES also had a TD and broke down below its ema. ES200R amazing chart is bearish.

Indices trended lower with SMH/SOX breaking down and cnsld for most of the day. Dow broke down and I'm looking @10630-50 area for possible support.

Overall positive day!