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To: UnBelievable who wrote (15461)9/1/2000 8:17:12 AM
From: AllansAlias  Read Replies (2) | Respond to of 436258
 
NASDAQ futures up 68 full points. Someone stop me please. It is more than tempting to short this level of optimism, jobs report notwithstanding.

I think the dominant pattern on the NDX might be a large wedge that is pointing at resolution in November. I consider resolution to be 75% into the wedge.

For those of you without charting software:

stockcharts.com

The peak on this chart is "the" March high.

The upper wedge line is from the high on 5/01 (the up move off the April correction low) to the high on 7/17. (The June high came very close to this line).

The lower line is the May low through the Aug low.

The wedge lines actually interest about the second week in January.

The top line is at 4228 as of today.