Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: tradermike_1999 who started this subject	11/1/2000 6:13:37 PM
From: tradermike_1999	Read Replies (3) of 74559

Tomorrow is the day! For the past few days my main theme has been that the Nasdaq is in a narrow and volatile trading range and is about to break out one way or the other. On the chart above you can see this clearly. Today the Nasdaq tried to bust out of the trendline resistance level and fell off. Tomorrow will be pivotal for the markets. The Nasdaq will either breakout of this range or begin another leg down. I'm optimistic for a successful close above 3,400. If that happens the next resistance point on the Naz will be 3600. We'll find out tomorrow if the Nasdaq rocket is going to liftoff or blow up on the launching pad. On the economic front today we got the release of the National Manufacturers Purchasing Index. It came in at 48.3, more than a point below the predictions of economic experts. A reading below 50 points means that industrial activity is contracting. Industrial growth has been contracting rapidly all year. The NAPM index has fallen 14% since March.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next