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Strategies & Market Trends : Classic TA Workplace

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To: skinowski who wrote (132742)	5/13/2006 9:58:31 PM
From: Henry J Costanzo	Read Replies (1) of 209892

Just checking in.....glad to see activity on the thread. Re support areas...... NDX.....I would suggest support should kick in......first at upper line of triangle from Dec '05........and. secondly, failing that, at UT line from Aug '04 and Apr '05...currently at about 1550 and rising..... Pullback to breakout line of a triangle is fairly usual behavior....I have that at about 1610...25 or so points below Friday's low,...Given the RSI at 31 now, I would expect an upturn from 1610 fairly soon..(Also expecting a bounce soon based on TRINs and TICK indicator....) home.twcny.rr.com

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