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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime
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To: the Chief who wrote (35094)4/14/2000 11:06:00 AM
From: AllansAlias  Read Replies (4) of 62348
 
Good call on the head-fake Chief.

The DOW is being lead around by the nose by the NASDAQ today. It is not respecting its internal support/resistance at this point but is turning through S/R in the NASDAQ.

Both have formed pennants that I would consider bear flags at this point.

For future reference:

Approx. support for the DOW:
  Horizontal support at 10730, 10400, and 10025
  Trendline support dating back to 1995 at 9920.



Approx. support for the NASDAQ:
  Horizontal support:
    Dec 3/99 gap: 3510 (very close early today)
    Nov 99 congestion: 3340
    Sep/Oct 99 congestion highs: 2900
  Trendline support:
    From Aug 99 thru Oct 99: 3255
    From Mar 99 thru various points: 2850
    Grandmama trandline from
    Oct/90, tested Dec/94 and Oct/98: ~1900

I am NOT suggesting the last one will be tested! If she blows, my guess would be the 2850 number.

--Allan
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