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

To: John D. McClure who wrote (48079)	4/25/2000 4:55:00 PM
From: HairBall	Read Replies (1) \| Respond to of 99985

John D. McClure: You referred to the OTC, I am going to reply assuming you mean the NAZ Comp Index. so far we have not violated the upper downtrend line from the second top in late March. Correct, the COMPX is still a ways from that descending resistance line. But note, it does have a steep descent. If we do break through and hold above the trendline, do you see a possible retrace to the 4400 area going into May or will we pull back to fill the gap? If the COMPX (NASDAQ Comp) breaks above the above discussed falling resistance line, looking at the current chart, I would expect next strong resistance to be in the range of 4182-92, followed by 4475. Regards, LG