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Setups for Monday, September 11, 2000

Global Crossing GBLX has fired 2 Day ROC Sell and 90-10 Low Continuation & Reversal signals for today's trading. The 2 Day ROC Sell signal implies that today's principle trade direction should be to the downside. The 90-10 Low Continuation & Reversal signal forecasts a break to the downside and then a reversal. Cycle Indicators (chart at left) appear as if a short term cyclical top has recently been defined. Odds favor the downside in early morning trade. Sell the break of Friday's 32.937 low, or even earlier if price demonstrates weakness below the 33.459 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 32.250 or the Extended Low Range Projection level of 31.677 would be likely areas for such a reversal to take place.

Immunex IMNX has fired NR4, Inside Day, and 90-10 Low Continuation & Reversal signals for today's trading. The NR4 signal tells us to expect range expansion and a pickup in volatility. The Inside Day signal is fired when the day's trading occurs within the range of the prior day. A subsequent breakout of an Inside Day's range typically points the way of the next trend move. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. Although odds seem to favor the downside, the NR4/Inside Day signal tells us to be prepared for a large impulse move in either direction. Trade the break of Friday's 47.750 high to 45.187 low range with a stop and reverse on the opposite side as the entry. Price action relative to today's 46.063 Daily Pivot level may provide clues for earlier entry. If the break should be to the downside, the 90-10 Low Continuation & Reversal signal tells us to be ready to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 43.969 or the Extended Low Range Projection level of 42.990 would be likely areas for such a reversal to take place.

Oracle ORCL has fired 2 Day ROC Sell, 90-10 Low Continuation & Reversal, and Momentum Pinball Buy signals for today's trading. The 2 Day ROC Sell signal implies that today's principle trade direction should be to the downside. The 90-10 Low Continuation & Reversal signal tells us to look for morning follow through on the weak close, but to expect a likely reversal once the initial move has bottomed. The Momentum Pinball Buy signal suggests that we'd want to consider longs if price is strong enough to break the first hour high. Odds favor continued downside in today's early trading. Sell the break of Friday's 86.500 low, or even earlier if price demonstrates weakness below the 87.979 level of the Daily Pivot. But stand prepared to exit or even reverse if we get appropriate price reversal patterns and/or Oscillator Divergence near important support levels. Our Normal Low Range Projection level of 84.376 or the Extended Low Range Projection level of 82.704 would be likely areas for such a reversal to take place.