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Technology Stocks : Micron Only Forum
MU 246.95+4.1%Dec 8 3:59 PM EST
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To: J. P. who wrote (42572)1/30/1999 2:59:00 PM
From: Land_Lubber  Read Replies (1) of 53903
 
I just noticed something interesting.

The last major market correction that started mid-July 1998 began when:

- DJIA was trying to break 9400 for the first time
- NASDAQ composite tried to hold 2000 for the first time

Now:

- DJIA is trying to break and hold 9400 AGAIN (a small correction ensued in late November 1998, also when the DJIA was assaulting 9400)
- NASDAQ composite is trying to hold 2500 for the first time (NASDAQ sell programs seem to be triggered by these numbers, a two-day pullback of 100 points was also triggered then 2400 was touched for the first time)

One major difference between mid-July and now is that the NASDAQ and DJIA charts showed no technical weakness at all when the correction hit out of the blue back then, now they look dizzy from too fast a climb and seem to be almost begging to be allowed to drop.

Comments?

Land_Lubber
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