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Strategies & Market Trends : Technical Analysis - Beginners
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To: Michael Watkins who wrote (11267)2/3/2001 11:48:41 AM
From: Trader X  Read Replies (1) of 12039
 
New lows would be much more exciting.

maybe more exciting, but I think the health of the Naz depends on it holding support at 2600 next week or two.

There is a gap on the Naz chart at 2600, and hold of support there would be both encouraging and healthy as it would bolster confidence in the market. A move to 2600 would get the market oversold again without damaging the technicals any further.

while I don't of course trade off of longer term projections, it gives me a benchmark to measure against for future evaluations. In other words, you need to know what to expect in order to know what a failure or success is.
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