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

To: q_long who wrote (50595)5/12/2000 5:00:00 PM
From: patron_anejo_por_favor  Read Replies (1) | Respond to of 99985
 
<<The support at 3300 forms a classic double bottom>>

Not quite. A classic double bottom would take out the old lows, accompanied by lower volume and contained within the Bollinger Bands. This one did not take out the old lows (so far that is).



To: q_long who wrote (50595)5/12/2000 5:10:00 PM
From: Fun-da-Mental#1  Respond to of 99985
 
Actually I don't think the Nas is going to form a double bottom. When a stock (or index) has gone parabolic, there's not much support until the whole blowoff move is retraced.

Fun-da-Mental


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