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Strategies & Market Trends : Technical Analysis - Beginners

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To: Chris who wrote (11438)	2/7/2001 6:07:48 PM
From: TechTrader42	Read Replies (1) of 12039

The candlesticks are interesting. The lower shadow in the Nasdaq's daily chart just about touched the lower Bollinger band. QQQ broke down through the lower band. Shorter-term, MACD would seem to indicate that the Naz could reverse back up soon. But longer term, it still looks questionable. The trend with 13/34/89 is down. Maybe buyers will rush in now, and then there will be more bad news to follow the CSCO report. Today's low for QQQ was no doubt tempting for some. But is it headed for the 56s, and maybe even the 53s. That's the question. The Dow looks questionable in both time frames.

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