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Strategies & Market Trends : Tech Stock Options

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To: Compadre who wrote (56053)10/22/1998 12:44:00 AM
From: ViperChick Secret Agent 006.9  Read Replies (3) of 58727
 
o: +IntelligentSpeculator.com (18102 )
From: +IntelligentSpeculator.com
Wednesday, Oct 21 1998 9:35PM ET
Reply # of 18118

Dow Industrials and Transports: Today's Technicals

Dow Jones Industrials
The index found resistance in the 8600 area yesterday and pulled pack slightly today but
still made a higher closing high than yesterday, giving the index potential to break the
bearish shooting star seen on yesterday's daily chart and not confirming that a short term
high has been seen. Resistance above is at yesterday's high of 8652 with the next level
of resistance above at 8780. Major support is seen at 8200 and at 8056, supplied by
the 30 day moving average. The index is still trading above the moving average and
momentum is still up.

Dow Jones Transports
The index found resistance at yesterday's highs, clearly making a shooting star pattern.
Today it closed down, confirming the short term high seen yesterday. The index is still
trading above its 30 day moving average at 2650 which provides support.
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