|
PureBytes Links
Trading Reference Links
|
Hi,
1. If anyone has daily NASDAQ data from 1970
available for Metastock, I would be grateful.
2. My daily and weekly charts of
NASDAQ.
The question is whether we are finished with the down trend
for the moment.
As can be seen in the both daily chart and the weekly chart, on March 1,
2001, NADSAQ penetrated its 1990 (red) trend line as well as crossing, touching
or coming with spitting distance of four Fibonacci retracement lines, and the
support (blue) trend line for the current bear market, before closing above the
lot of them. A mighty fine piece of work in one trading session. By all rights
there should be a bounce. I note that Friday's action did not take NASDAQ to a
new intraday low.
With respect to the weekly view, the validity of the 1980 trend lines
(drawn in black) are in question. I have seen a comparable chart from 1970 to
the present, and a better lower bounds can be drawn parallel to the red channel
albeit at lower levels - hence my request at item 1 above.
Longer term, the excessive action of the bubble may have laid the foundation
for an equal and opposite reaction sending NASDAQ below the 1990 support (red)
trend line sometime in the future.
FWIW,
Tony
Yahoo! Groups Sponsor
Click here for Classmates.com
To unsubscribe from this group, send an email to:
realtraders-unsubscribe@xxxxxxxxxxxxxxx
Your use of Yahoo! Groups is subject to the Yahoo! Terms of Service.
Attachment:
Description: "q010302w.gif"
Attachment:
Description: "q010302.gif"
|