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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Paul Shread who wrote (3648)3/21/2001 11:33:34 AM
From: donald sew  Read Replies (1) of 52237
 
Paul,

>>>> Interesting that the NDX turned up at 1604 today; should be forming a nice falling wedge still <<<<

Not sure if it has already been mentioned, but it looks like the SPX/OEX may be forming a declining flag pattern. If that is the case that would also help the declining wedge on the NDX.

For what it is worth. This past week has been so negative for the market, especially high lighted by the majority of bearish posts. And why not since the Dow has dropped so hard. What is interesting is that 7 trading days ago the NDX had an intraday low of 1679, and right now the NDX is at 1637, about 40 points lower. If we were to judge the NAZ/NDX by all the bearish posts over the last week, one could have assumed that the NDX was several hundred points lower.

In no way am I saying that the NAZ cant go lower, just trying to give another perspective to all the recent bearish posts, including my own, where I dont think 1500-1400 on the NDX will hold in the future.
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