Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: stan s. who wrote (102155)	5/2/2000 11:13:00 PM
From: stan s.	Read Replies (2) of 108040

NASDAQ chart, not much to show here, with luck we're just overreacting because of recent tanks on the naz. Today's move did not break a pretty nice uptrend we've been on for several days. 2 weak lines of support were broken however and that's worth noting. I did not include them, no need to further complicate the chart right now. I will say most indicators still look okay, one down day does not an uptrend break. geocities.com All that happened for now is a fill of one gap and the likely fill of a second gap, almost on the line where the stock rests. Still nicely above the 200 day ma and well off the lows. As Mike mentioned there is another gap around 3496, too early to say whether that becomes a target on the current dip. I would like to see it hold 3600-3630 at close area to stay on the uptrend. Right now we simply had a bad day on crummy volume. One more item of note, this pattern today is very reminiscent (not quite the same) as the upside gap three method pattern in candles. It is generally still a continuation pattern after taking care of unfinished business. Not a pattern written in stone however. litwick.com Like everyone else I did not get the feeling of a continued uptrend today and in fact I look at tomorrow with a kind of dread...but that feeling is yet to be borne out with facts. If one simply looks at the chart their is not yet reason for renewed panic...only wariness and caution. Let's see what tomorrow holds. Stan

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