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Strategies & Market Trends : NetCurrents NTCS -- Ignore unavailable to you. Want to Upgrade?


To: .Trev who wrote (944)10/20/2000 1:18:37 PM
From: Teresa Lo  Respond to of 8925
 
NOK: "...can you tell me whether there is anything in yesterday's chart that might even wildly suggest the possibility of to-day's 7.6 point gap coming down the pike..."

First of all, you know that the market has been going down for almost seven weeks, and on Wednesday morning, it did a test of last Friday's low.

Emotions were high, and there was a lot of bloodletting going on. In these market conditions, on a test of bottom, I don't think it's unusual for stock to gap up on a reversal. Stocks seem to gap up and down a lot these days, but for NOK, this is what I see.

NOK was testing a 20-day low and was set up to do a 2B test of bottom, so it wasn't a surprise that it would gap up, after the broader markets held on the test. This is the Larry Connors Turtle Soup setup.

For more information on this setup, please check out:
ispeculator.com

Teresa