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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: donald sew who wrote (35288)11/10/2000 11:22:30 AM
From: Paul Shread  Read Replies (2) of 42787
 
Don,

I redid the NDX wedge in the daily chart and came up with an apex in late December/early January. That gives a two-thirds point of about Nov. 27: maximimum downside at that point is ~2850, and the break should occur to the upside at that point around 3250. However, the move called for by a wedge is simply a 100% retracement to the point where the wedge started, which would be a target of 3500. Looks like it could be a bottom, but without a very exciting advance coming from it. Falling wedges are notoriously slow-moving and unpredictable things; I wouldn't rule out a trip to the apex at 2800 in late December/early January. Could be tough going for a while; maybe a slow deflation of the big Nasdaq stocks.

wsrn.com
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