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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: eichler who wrote (76248)	5/1/2001 10:44:43 AM
From: eichler	Read Replies (2) \| Respond to of 99985

Nasdaq currently cruisin' for a bruisin' symmetrical triangle formation on 60 minute chart threatening to break down. Also, the current spot on the chart also corresponds to the 30 ema, a valuable moving average I follow. A break down from here points to at least the first target below 1995 (38% retrace from 4/4 low). Next target, gap fill around 1917 (50% retrace). 62% would be around 1839. For the rally to continue from here, the current level must hold and an advance beyond 2160 ensue. As long as $compx trades in the formation I mentioned, heightened caution would be advised. Not that caution should ever be forgotten! ggg Regards, Eichler