Just moved thru 2470 (end of last year finish)...pretty easily...also, we moved thru yesterday's resistance fairly easily...
Today has the potential to be a GREAT day for the Naz- if these levels hold...if it does, and if I would be a bear, I would be getting as confused as hell.....With the Csco downgrade and 25-30 price target, weak Naz rally yesterday, etc.....Naz should have tanked today, and stayed there....and continued the trend that we are all (at least me) pretty sick of...
Still a long time to go, and the Naz could still flop....but it would be huge if Naz could stay up here, or even, gulp, break 2500 intraday, and stay there on the close (compx)...if it would, and I were a bear, what would I do (short-term)? Hmmm..
Part of the durability of this down-trend in the Naz has been the unshakeable belief by the bears that we are going down...they have been shorting the heck out of this market.....for the Naz to go up, they need to learn (again) the same fear they had before March 2000.....could day be one of those days?......we'll see... |
