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Strategies & Market Trends : Sharck Soup
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To: Bid Buster who wrote (30607)7/11/2001 2:15:22 PM
From: Softechie   of 37746
 
Nasdaq Composite : -- Technical -- Currently working to break above near-term resistance at 1974 which would also represent a break out to a new intraday high. If it should succeed, watch for minor overhead in the area of 1985/90 with more important resistance at 2,000. A break over 2,000 would constitute 50% a recovery of yesterday's intraday collapse (measured by the open/close) and would be watched closely by technicians as a possible signal of a near-term trend reversal. Also worth noting that the gap leading down to 1941 has been closed earlier in the session.
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