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Pastimes : QQQ & DIA - chat & chart

QQQ 623.28

+0.7%

4:00 PM EST

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To: Jon Khymn who wrote (667)	8/13/2003 1:25:47 AM
From: Chris McConnel	Read Replies (1) of 795

The Naz is making a series of lower-highs and lower-lows on the daily. The summation graph has turned over and is heading down. And we are getting divergences with new-highs indicator. We are also in a seasonally weak period right now. All of this adds up to a market that should move down and side ways for awhile. Most likely we will head down for awhile. But i'm on the look out for another rally. The 2nd half growth is looking to be strong right now. Provided the bond market stablizes here. The question is how low we will go before we have another rally. My current bet is QQQ 27/28. The only wild card right now is energy prices, which are staying stubbornly high. The futures market is suggesting the oil prices could stay high for awhile. (Geez, i'm starting to sound like a market commentator or something... -gggg-) Edit: Here a few links... Summation Index: stockcharts.com[w,a]daclyyay[df][p][vc60][iLa12,26,9]&pref=G MACD: stockcharts.com

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