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Strategies & Market Trends : Classic TA Workplace

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From: Henry J Costanzo	5/24/2006 11:54:25 AM
	of 209892

Support areas ??? NDX....Last posted 3 possible areas, depending on the C wave FIB relationship to a an A wave in a proposed count presented...1574. 1559, and 1544. Today's low 1560.89 virtually matches the C=1.50A result of 1559.41..... Taking that as THE "support area", and turnaround point, would think..as was case with COMPX...oversold rally/bounce might aim for R at the overhead 200dMA and the Feb/Mar lows.....1640-50ish.... Roughly applying the foregoing to the QQQQ, this AM's low 38.34 might seek R 40-41ish .....

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