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Strategies & Market Trends : Ask Vendit Off-Topic Questions -- Ignore unavailable to you. Want to Upgrade?


To: DOUG H who wrote (954)8/4/2001 5:20:56 PM
From: Venditâ„¢  Read Replies (2) | Respond to of 8752
 
Even though the longer-term up-trend is getting fairly mature;

askresearch.com

…....based on the 60-minute chart below, it looks like an open to the upside on Monday for the tech stocks.

askresearch.com

...but past two daily candles in chart #1 show a toppy candle on Thursday followed by a hammer (reversal candle) on Friday.

So......I think that S/T support at 2048 which formed Wednesday and Friday is going to be key to this coming weeks trend. Any move below that level intra-day will clear the way for addition likely downside.

What is your take?