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this bounce in NASDAQ is only good for tops $3-4 for qqq from intra day low
to intra day high
then we take out the 33 low
aprox 5-7 buss days time frame
how low 31 is first target
nice day
Ben
----- Original Message -----
From: "Gary Funck" <gary@xxxxxxxxxxxx>
To: "Realtraders@xxxxxxxxxxxx Com" <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, April 09, 2002 12:31 AM
Subject: [RT] NDX - double bottom?
>
> See attached. I found it interesting that this is the second time that NDX
has
> tested the current level (March 2001, late Feb 2002, and today, April 12,
> 2002). The recent two lows, have the look of a double bottom (in the 1340
area)
> with the potential to bounce to about the 2000 level (+45%). On the
downside,
> the lows of Sept-2002 look like a reasonable downside projection in the
1100
> area (-18%). I'd be interested in how you chart readers interpret this
chart,
> and what sort of projections you'd make from here?
>
> PS: the lower diagonal line is trend line off the 1993-94 lows, showing
that
> the NDX could drop substantially, and still be in line with a longer term
trend
> line, of appreciation of about 11%/year.
>
>
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>
>
>
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>
>
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Attachment:
Description: "ndx_96_020412.gif"
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