dj chen, those trendlines may or may not be valid, lg is the keeper of the trendlines, i would prefer to concentrate on the trendlines of the immediate downchannel from the fomc meeting, looking for a breakout.
one should never ignore a fool moon or a zeev's turnip day -gg-
stockcharts.com[l,a]dacayymy[d19981008,19990101][pa2052!b200!c20][vc60][iUd20!Ub14!Ll14!Le12,26,9!La12,26,9!Lh14,3]
the nasdaq plugged the gap on friday from the santa rally 98, which was the breakout gap from the july 98 top (people thought i was nutzo many months ago when i said we had a good chance of filling that gap -g-), this may or may not be a spot for a nas bear rally, rallies are in the show me phase, there were 91% ameritrade buys on friday, looking for capitulation and don't have it there.
imbo |
