Trend Setters and Range Riders Message Board

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Strategies & Market Trends : Trend Setters and Range Riders

MSFT 485.49

+1.8%

Nov 26 3:59 PM EST

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To: Frederick Langford who wrote (21574)	7/30/2002 11:33:44 PM
From: Susan G	Read Replies (2) of 26752

Updated Nasdaq Comp charts On the daily, the downtrend line from May is now right above that 20 EMA daily that was broken for a short time today. This is the same downtrend line that's been a huge battle for months now, as has the 20 EMA. The COMP closed right up against both. Also right above that is resistance at an unfilled gap from last week's gap down, and that old broken trading range. 3 tough spots, all in the same place. Tonight's KLAC news or a negative GDP may ruin the breakout, but another attempt will be made eventually so this is an area to watch! And if by chance the eco numbers are good and we gap open over 1350-1360, the nas is definitely going to run. Trying to be optimistic, we've seen the futures down 10 before and gapped up the next day on some spin or another <g> If it moves down tomorrow on KLAC or the big economic reports, and the important support areas marked on the 60min. chart hold, and then reverses to the upside like it did today, taking out this huge resistance area, there could be one hell of a short squeeze if the 1360 area is taken out... Either way, up or down, tomorrow is going to be a wild one! 60 minute mywebpages.comcast.net daily mywebpages.comcast.net

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