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Strategies & Market Trends : Classic TA Workplace

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To: Moominoid who wrote (31111)	2/14/2002 10:02:53 AM
From: AllansAlias	Read Replies (1) of 209892

If we were to give another 7-10 points or so on NDX/COMPX, this will become a potential breakout failure. Very bearish s-t that. We are not far at all from the bottom of the wedge out of the low of the 12th. We are backtesting the breakout of the channels and DT lines out of Jan 9th. If this is pointed up, and I seem to be the only one around here besides davidd who even doubts that, then we can do no more giving. Oh yes, the Dow is probing out of the up channel from last Friday's low. It's been on the best tear of all. A probe is OK, even expected, but again, it can not give a whole lot more and maintain its drive.

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