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Strategies & Market Trends : MP - Market Pulse
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To: ajtj99 who wrote (578)7/12/2001 8:01:45 PM
From: HairBall  Read Replies (1) of 1328
 
ajtj99: I am not sure what trend line your are talking about unless your talking about the trend line Les illustrated on the chart he posted last night. If so, that is a broken rising support line now acting as resistance. That line came into play in the area of the high for today for the NDX (1757/8). A gap open to 1775 would be above that rising SRL.

And I am not sure what channel you are talking about unless you're talking about the falling channel eichler illustrated on his chart on MDD for the Naz Comp. I am not actually tracking that exact channel, but instead have a falling contracting channel along those same general parameters. The falling resistance line comes in at tomorrow's open somewhere around 2145. That falling resistance line and the matching rising SRL on the COMPX (to Les' rising SRL for the NDX) from the 4/4 low, intersect at the open on 7/19 at about 2123/4...<g> Or, just under the 78.6% retrace of the 7/2 decline into yesterday.

Let's see what the futures look like pre open...

Regards,
LG
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