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Technology Stocks : Micron Only Forum

MU 246.84

+4.2%

Nov 14 9:30 AM EST

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To: TREND1 who wrote (51202)	4/29/2000 9:56:00 AM
From: Land_Lubber	Read Replies (1) of 53903

Larry, You are very right that closing right on the trend line is hugely significant for Monday. But the NASDAQ close is even more significant that that. The NASDAQ composite closed EXACTLY on the upper edge of the 2-sigma trend BAND. Whereas the trend line joins the peaks (or lows) and is a very important TA device, the 2-sigma band is much more significant because it is formed through a statistical procedure that considers every trade between (in this case) March 10, 1030 EST and April 27, 1600 EDT. In this case the lines are identical. The nice thing about knowing that the NASDAQ is respecting its 2-sigma band is that it gives you a degree of confidence in where it will find support. 2900 here we come. Land_Lubber

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