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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?


To: James F. Hopkins who wrote (22129)8/4/1999 8:22:00 PM
From: stockycd  Read Replies (3) | Respond to of 99985
 
If CNBC is painting gloom and doom, it's time to buy. <g>

I've been looking at the Nasdaq weekly chart tonight. The chart goes back to spring 1996. We have had 4 major corrections in the Nasdaq. Bottoming in July 96, Apr/May 97, Jan 98 and Oct 99. In each of those 4 corrections, the 50 day ema on the weekly chart was tested.

Guess where the 50 dema is right now??? I've got it at about 2320.

FWIW,
Chris



To: James F. Hopkins who wrote (22129)8/4/1999 8:37:00 PM
From: pater tenebrarum  Read Replies (1) | Respond to of 99985
 
Jim, i'm not surprised...and very curious what they will have to say if we go down further.

hb