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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: sjemmeri who wrote (39135)	4/19/2001 10:57:40 PM
From: Doug R	Read Replies (2) \| Respond to of 79230

Steven, The V bottom on the NDX is not typical for market bottoms. Countertrend rallies are normally furious and this one again started when the NDX reached about 700 points below its 50 dMA. The rallies from there have been multiple week affairs. The current rally cannot be said to be different from the others yet. The potential for lower lows still exists and as I said in the initial 7900 post, it's going to depend on how well the spin doctors work on psychology. The rally will peak out and how the pullback afterward behaves will be very key. Doug R