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Strategies & Market Trends : The Millennium Crash -- Ignore unavailable to you. Want to Upgrade?

To: Dan Hamilton who wrote (5073)	4/5/2000 6:15:00 AM
From: Arik T.G.	Read Replies (1) \| Respond to of 5676

Dan and all, The NASDAQ suffered a great technical damage in the last two sessions. 1. There are now several very strong resisitance levels that make a thick resistance area from 4200 and up to 4600. If the Naz manages in some miraculous way to overcome all the technical resistance and stable over 4600 then a new high is in the cards. That looks highly improbable. 2. The upward rebound yesterday has the characteristics of a correction to the very short term trend. IMO the Naz will at least test yesterday's lows before a longer, more orderly correction should occur. It could happen straight away or in two phases: first a drop this morning, then another try at the resistance area (not over 4300, I guess) and then a more orderly decline (2-3 sessions) to a new local low. ATG