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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (53582)9/23/1998 8:47:00 AM
From: Lee Lichterman III  Read Replies (1) of 58727
 
If today is a strong up day as the futures suggest, then we will pierce some resistance points and break some trend lines also which should then serve as support. The NASDAQ is currently at a sharp down trend line connecting the tops from the July and August peaks, DELL is at 60 resistance etc. I am starting to believe that the down turn at the end of this week may be minor in light of the strange sell my indicator gave for Thursday and then Buy signal it gave for next week. This could be the final push up before the plunge which could last a week or more to get us to the major resistance lines on the indexes such as NASDAQ 1710 and OEX 515. This would pose quite the bull trap as this could be seen as a major positive move despite the tough going after that.

Regardless, should be interesting. Good Luck

Lee
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