hi duane, just traveling around a few threads, saw your nasd question....
trendline from july '96 low thru april '97 low and extended to now = approx 1360, only halfway there if we are to reach it. trendline from dec '94 low thru april '97 low and extended to now = approx 1350, same difference. second trendline shoots thru july '96 by quite a bit, if using arithmetic scale. if using semi-log, all three low points are pretty much on the same trendline, with the extension = approx 1400 now. either way, we have yet to hit any of these (if indeed we will).
more importantly, imho, is the fact that the low on friday was 1486. the 200 dma (simple) is 1496. we managed to close above it, even tho we dipped intra-day. this is a very important number to watch. chances are, if we close below the 200 dma for 2 consecutive days, we are on our way to that trendline that you asked about. again, my opinion only.
hope this helps. |
