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Politics : Idea Of The Day
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To: SecularBull who wrote (32203)7/11/2000 9:52:07 AM
From: IQBAL LATIF  Read Replies (3) of 50167
 
If you look very closely you would find that NDX PSE are weakening, the 13 days MA is about to move below the 25 days on Composite the levels are different 3940 and 3890 are the supports, SPC 1462 is the support, if we hold these supports on Comp and SPC this time we go higher as I have highlighted yesterday we break these levels VIX will certainly be valid but on major supports I look at this interesting 13 days 25 days MA, I think yesterday IIX close at 488.5 was very critical at the 25 days MA, if we break that for two days we are going to see that 25 days upward moving alert to head down, I think yesterday key stocks selling was a more of a technical test of supports and if we hold the levels on Comp and IIX and SOX I see no reason that NDX PSE may not turn around, however that said this market has a close association with leading stocks I would assume that NDX PSE shows soem concerns but may be it will be good to concentrate on broad market like Comp and SPC which have not shown any technical problem even with a close below 4000..
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