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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 486.98

-1.4%

Nov 19 3:59 PM EST

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To: Frederick Langford who wrote (20462)	7/11/2002 8:31:20 PM
From: Susan G	Read Replies (1) of 26752

NDX channel mywebpages.comcast.net SPX channel mywebpages.comcast.net DOW channel mywebpages.comcast.net there's a new divergence showing between these...NDX is showing strength in the fact that it didn't test the bottom of the channel, made a higher low and broke out of the top tonight in after hours. SPX and DOW are back in, but broke down out of the bottom today and now are at the opposite end of the channels tonight. So is the SPX going to ramp, or will the NDX fail? Or breakout on it's own momo? Short covering could keep this over it's channel, and if it holds (more than a few days) it will be a real breakout and there will be hope for the NDX after all <g>. EDIT to the chart notes: Looking at the futs here, they've lost 15 points already from the top of the Dell spike, and it's now sitting RIGHT below this channel trendline...around 1007-1008 NDX. Unless they break above 1025.5 tomorrow, it's another reversal/failure to break out of this channel it's been stuck in for months.

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