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To: James Strauss who wrote (29237)	9/7/2000 10:10:55 AM
From: donald sew	Respond to of 42787

James, >>>>> Today's bounce off that moving average is a bullish sign... It has to close above the 20 day MA today and test the 4190 area in the next few days... Success there sets up tests in the 4350 and 4600 areas... Failure there sets up retests of 3940 and possibly 3600... <<<< Basicly we are in agreement, although I wont call it bullish, I just consider as an inflection point. If the NAZ cannot set a HIGHER HIGH from here, then it that action should be interpreted that either somesort of a downtrend is starting if lower lows are also set or some sort of chart formation such as a triangle/flag/wedge/etc it developing. So to me its not bullish nor is it bearish, just a inflection point. Normally, the overall market is strongest when the various sectors move up in unison. The DOW is down right now, sure it could change.

To: James Strauss who wrote (29237)	9/7/2000 10:12:27 AM
From: Peace	Read Replies (2) \| Respond to of 42787

Jim, NDX 3750 is a very important area. Fib retrace level, but more importantly the falling trendline from March and July highs that we shot thru a while ago. It is common for an index to test a level like this given that we never looked back after the first close above that line. So, there is still a possibility of a closer test of this level but nevertheless this is just a pullback in an upward market. May be we put in the low yesterday and that line is history <g>, we will know soon enough. Peace