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Strategies & Market Trends : Rande Is . . . HOME
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To: JLS who wrote (44812)1/5/2001 7:25:57 PM
From: JLS  Read Replies (1) of 57584
 
Another thing...if you look at a weekly Nas chart note the ADX was rising on the move from Oct - Jan last year, meaning there was a strong trend, then the ADX went down when the Naz recovered later in the spring and summer, not really a trend. Since Oct the ADX has been rising but is reading 31, it may take a move back to 40 on the ADX for this downtrend to reverse. I hate to think how may points lower that would be.

AMAT is an interesting stock to watch here. It's resting on it's 200 day moving average and the ADX is reversing, meaning that the downtrend may be over. It seems to be building a base, as are other semi's like KLIC, etc.
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