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Strategies & Market Trends : NetCurrents NTCS

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To: shortilong who wrote (8476)	1/23/2002 9:21:00 AM
From: Michael Watkins	Read Replies (2) of 8925

trendvue.com While the chance of an outright crash is there, we have to be open to the possibility that price may move up from here for a few reasons: - technically its still testing the bottom of the range if price moves back to it. Overnight news seems to be setting up an inside day at least. - the downswing is extended. Either a crash scenario develops very quickly (today or tomorrow at latest) - since price is at an important test and will not hover here indefinitely - or price will rally into overhead resistance (of which there is plenty). Hard to believe that tech can move straight up out of this range from here; however the most diabolical outcome is probably a pause in the decline, maybe even a rally for a few days and then a new test of the range bottom.

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