Nasd 100…3100 should bounce the first time down., however the bigger game will be played out @ 3076.50 which is the Monthly ORL#.

SPU’s…1530-32 is the Monthly ORL# and the first downside tgt

CB…Chubb Ins, a relatively low risk name, has doubled from the 2008 low and now shows a potential double top on a semi annual chart.

Chubb needs to maintain above 86 close to avoid a very good correction.

We’ll start preparing a shopping list. Momentum names have the most to break.

Once again each instrument must be judged on it’s own technical s, they are not to be lumped together.

XLU…has put in a descent low. A close over 38 is needed for upside follow through and a close under 36.50 is needed for downside.

I’m mentioning the Utilities because it’s a good fear gauge. Stock rotation out of High beta names into lower volatility dividend stocks.

GS…as long as this holds the 200 day @ 153.20 close it can bounce.