Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: ajtj99 who wrote (32016)	2/21/2002 9:04:48 PM
From: ajtj99	Read Replies (1) of 99280

More reversal evidence for tomorrow: On the NDX, today's close was stopped by the falling support/resistance line originating from the Dec. 6 high through the Dec. 18 pivot high. Why is this significant? Because this line has stopped the other 2 drops - Jan. 22nd and Feb. 7th. This is THE major support line for the NDX and is also working for the COMP. This line drops about 7-points a day, so maybe it will give us a target for the low tomorrow and beyond if that is not THE low. We had some important support/resistance lines during the summer, including one that contained every major drop. This line is performing the same function. Trade off it, and profit. The last two times we hit this line we nearly hit the middle Bollinger Bands afterwards. That could be 80-100 points to the upside from the low. We could run and hit the gap at 1801 and NDX 1434 and turn back, or just keep going. Good luck!

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