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 (35989)	3/2/2002 7:38:09 AM
From: Justa Werkenstiff	Read Replies (1) of 99280

AJ: Re: "Weekly NDX chart seems to want NDX 1508 or so." Not without INTC it doesn't. And what does INTC want? INTC looks like it wants to break down more. It has broken down out of and head shoulders top and could not even manage a backtest of its neckline yesterday with all the hoopla. In fact, while the NDX made a higher high of 1435 over Feb. 25th's 1414 yesterday, INTC could not do the same. INTC's high on the 25th was $31.51 and yesterday it was $31.01 on lighter volume than its recent declining days. With the INTC cc on March 8th and the strength in the Sox, it is all about INTC this week as far as the NDX goes and techland in general. And if folks still feel bullish about the NDX, take a look at the CSCO chart and its performance yesterday relative to its performance this week. Woof-woof. Thing could hardly make a a 50% retrace to its weekly high from its weekly low yesterday despite the strength in the NDX.

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