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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (11267)	2/3/2001 11:48:41 AM
From: Trader X	Read Replies (1) \| Respond to of 12039

New lows would be much more exciting. maybe more exciting, but I think the health of the Naz depends on it holding support at 2600 next week or two. There is a gap on the Naz chart at 2600, and hold of support there would be both encouraging and healthy as it would bolster confidence in the market. A move to 2600 would get the market oversold again without damaging the technicals any further. while I don't of course trade off of longer term projections, it gives me a benchmark to measure against for future evaluations. In other words, you need to know what to expect in order to know what a failure or success is.