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Pastimes : ASK Vendit Off Topic Questions -- Ignore unavailable to you. Want to Upgrade?

To: Guardian who wrote (11720)	4/21/2000 9:07:00 AM
From: Vendit™	Read Replies (1) \| Respond to of 19374

Good morning I wanted to add my 2 cents worth as in looking ahead to next week with this chart. 208.240.76.45 This is how I read that chart; 1- Stochastics is showing weakness which will likely turn into another down trend this coming week. 2- Williams R% for the second day in a row is pointed down now which is many times an early warning that a "top" has been formed. 3- If you draw a trend line underneath the last two major lows on the chart (3600 and 3200) you will see that the line will project off of the right hand side or the chart at the 3000 level. Im seeing 3000 as the next target and a possible buying opportunity for some short term positions (long)to be taken on the day that level is reached. In the next chart Ive applied Bollinger bands with a defaulted MA which is probably a 20 ma. (the smooth green line which is sandwiched between the Bollinger bands.) 208.240.76.45 You will notice that this 20 MA is acting as a very strong upper resistance "marker" as the NASDAQ's continues its downtrend. It will take a decisive break above this 20 MA in order to have a chance at any real NASDAQ recovery. Also notice that the bollinger bands are again moving down tight towards the daily candles. This means that pressure is building (momentum) which will cause the index to make another large % move soon which Im guessing will be down. (3000) Im still seeing the 2800 level as the possible landing zone for the NASDAQ as this is where I see first real strong support and is also the area that I had privately shared this with Donna last week, I believe she mentioned it to the thread. (Thank you Donna) All is in MHO. Reid