Charts on Near Term Uotrends Message Board

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Strategies & Market Trends : Charts on Near Term Uotrends

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To: Jibacoa who wrote (412)	9/13/2002 2:18:22 PM
From: Jibacoa	Read Replies (1) of 1404

The DOW and the NAZ Both the DOW and the NAZ reversed their near term up-trends yesterday. The DOW gave a near term sell signal when it broke its near term support at the 8505 and today is trying to test its September 5 L of 8217. If that doesn't hold the next support is at the August 5 L of 8031 (about 200 points below present levels) and then the July 24 L at 7532 (some 500 points lower yet) The September 1998 L was at 7401 and the October 1997 L was at 6975. Since the DOW's recovery attempt in March this year failed at the 10673 level, the slope of the decline has been more steep, and we may get to test the April 1997 L at 6396 or the July 1996 L at 5170. The NAZ may get to test its September 5 L at 1251 and if that fails, the July 24 L at 1192. The NAZ is already below its October 1998 L of 1357 and could get to test its April 1997 L at 1125 if the bearish trend continues through September and October. Bernard

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