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

To: shasta23 who wrote (2402)	10/28/2000 1:54:16 PM
From: Teresa Lo	Respond to of 8925

NDX Analysis: "...You were referring to the test of bottom on the NAZ on the daily chart in an earlier post and that the target of the bounce would be the 20EMA(daily chart) overhead. My question was that in case the bounce up fails at the 20EMA(daily) and pulls back where would you see the next support..." Ok, let's clean up the lines on this daily chart of the NDX. On October 26, the NDX made a new low on a test of the earlier October lows. ispeculator.com Friday's bounce, upon breaking the high of Oct 26, gave us the buy signal, confirming a 2B bottom. It would have been great to see a little more thrust, but I suppose an up day is an up day. The first target overhead is the 20-day EMA. Target 2 is the high from October 20. IF it fails at the 20-day EMA, THEN you would let your protective stop loss take you out and do nothing further, because it will likely be a sign that we're going to be chopping inside the range between the two blue horizontal lines for some time. Teresa