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Strategies & Market Trends : MDA - Market Direction Analysis
SPY 659.00+1.0%Nov 21 4:00 PM EST
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To: StockOperator who wrote (16781)6/14/1999 3:21:00 PM
From: E. Graphs  Read Replies (1) of 99985
 
SO,

I have been watching Nasdaq with some curiosity. The chart seems to be pushing to fill a hardly noticeable gap at 2400. I don't feel that it is necessary for this gap to fill.....was using it only as a marker for a pullback. There is pretty good support at 2400, imho. If Naz holds this support we may be setting up/forming an ascending triangle which will help combat resistance at 2500. Eventually, if we are able to take out 2500 we will have built some excellent support there. What do you think?

quote.yahoo.com^IXIC&d=3mm

Thanks for your comments.

E. Graphs
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