COMP closes inside the August gap (2451.07/2505.03), a possible sign that we could see a lower low on Monday. It's not at all certain, but it has to be noted. That gap was almost closed in August, so it's hard to tell if we are still playing that chart. Downside targets on the way to a retest of the August lows, based on December projections, would be 2485 and 2463. Must hold will be the actual gap close at 2451.07, below that we retest the 2400 level. Another possibility is that we double bottomed off the August 28th low of 2500. We will see what futures have in store for us Monday morning.
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on Friday, January 04, 2008 at 1/04/2008 08:04:00 PM.
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