Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (16662)	5/27/2001 11:12:54 AM
From: Richard Wang	Read Replies (2) \| Respond to of 30051

NASD has established a short term uptrend, with higher highs and higher lows since early April. The least resistance is for this trend to continue. Your 2100-2250 range, or I see as 2100-2330, may last a few more days, but the next movement within the not too distant future is to get over the low 2300 numbers, and head for 2900 resistance. Dipping below 2100 is unlikely. The recent B2B number supports the unlikelihood, as bad news no longer torpedo the market. The B2B numbers for last several years showed that the lowest numbers nearly coincided with bottom in tech stocks, actually the techs started moving up before the B2B numbers bottomed. The recent B2B number may be the lowest, or close to the lowest for this down turn. Based on historical chart patterns, we are unlikely to go below the current short term low of around 2100. Richard