NASDAQ SP DJ OEX INDICES TA ONLY! Message Board

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Strategies & Market Trends : NASDAQ SP DJ OEX INDICES TA ONLY!

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To: Topannuity who wrote ()	6/1/2000 10:50:00 AM
From: Topannuity	of 93

60 minute Naz composite chart -- right here -- @ 3542 we have pushed 20 points ABOVE APEX of large triangle defined by May 1st peak, May 17 peak AND April 17 low and May 10 low. Originally we broke below this triangle about 4 days before the apex. That was a pretty bearish breakout. Whenever a market breaks out a distance from the apex it is a strong signal. Nonetheless, we formed a 3 day head and shoulders bottom and now ar trading ABOVE the apex point. Lots of resistance still in chart at 3600, 3750 and especially 4000. One concern I have now is that the hourly Stochastics I follow are way OB. If we can relieve some steam and stay above 3400, I'll consider the breakout more real.

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