Trade Wrapup - 20080417

Trade Wrapup - Thursday, April 17, 2008

09:28
gapping lower:
EBAY
SPWR
ISIL
PLCM
ERIC
TTWO
EPIC
JASO
FSLR
BIDU
RIMM
GILD
GOOG
GOLD
AMZN
SMSC
QCOM
VIVO
STLD
AAUK
JBHT

gapping higher:
SYMC
FUQI
CHKP
AVAN
AVCT
ALTR
DELL
TEVA
CRNT
PHTN
MICC
TRIN
RYAAY
DROOY
XLNX
NTRS
ZION
CPHD

09:29 market is loking to open slightly lower it is hitting support in the premarket rounding off a bit at premarket lows hthere is some smealler time framer resistance here at 5 min 20 sma all sessions charts frame

09:39 market is still melting down quite a bit
i am looking for some back and forth type of action overall so i want to see how the market reacts to support levels
the nasdaq is the one really having trouble
the ES ans Dow are actually still holding up

09:53 - SMSC basing at lows
10:09 - SMSC off watch

10:09 - ES hit 15 min 20 sma support

11:20 -Eternum- Toni, does it look like futs are making avalanche on 5 min?
11:21 - Toni - ES and YM can if they contonue to congest here... would be the very start of the base for one
Avalanche: For more information on this setup, please see http://www.tradingfrommainstreet.com/techanalysis.html#4