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Pastimes : The Naked Truth - Big Kahuna a Myth

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To: accountclosed who wrote (45222)6/5/1999 3:35:00 PM
From: J. P.  Read Replies (1) of 86076
 
Got my web page going a little here...

members.home.net

I don't see any disaster looming on the Nasdaq, just a range on a descending wedge between roughly 2400-2500. A double break above 2500 could be a break to the upside, and a double break below 2400 could be a break to the downside, otherwise it looks like a rangebound coiling descending wedge that should be resolved one way or the other in the next 3 weeks. We are showing an overbought condition on the projection oscillator, however, on this particular oscillator, this often is a bullish signal.

A long way down to the 200 DMA (2136), however it's my belief now that the 200 DMA is skewed too far to the downside by the extended time at last fall's low low's, and the usual bottom found at the 200 DMA might be a little higher this time. BWDIK?

Wrong thread for this stuff, probably, just thought I'd share <g>

Jim
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