Re: [RT] NDX - double bottom?

["Ray Raffurty" <r.raffurty@xxxxxxxx>]

Hi Gary,
 
I am by no means an expert at chart reading, but my 
first impression was "What a classic head and shoulders bottom, better than 
anything I've seen outside of books" (over about 1 year).  If that is true 
it indicates that the bears are loosing strength and a long term rally is 
ahead.
 
Good luck and good trading,
 
Ray Raffurty
<BLOCKQUOTE 
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  ----- Original Message ----- 
  <DIV 
  style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From: 
  Gary Funck 
  
  To: <A title=realtraders@xxxxxxxxxxxxxxx 
  href="mailto:Realtraders@xxxxxxxxxxxx Com">Realtraders@xxxxxxxxxxxx Com 
  
  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 hastested 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 1100area (-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 thatthe NDX could drop substantially, and still be 
  in line with a longer term trendline, of appreciation of about 
  11%/year.To 
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