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

To: eichler who wrote (81268)	8/8/2001 12:58:21 PM
From: James Strauss	Read Replies (1) \| Respond to of 99985

The Nasdaq 2010 In Focus... ********************************** The intermediate term downsloping trendline for the Nasdaq keeps moving down... It now sits in the 2010 area... stockcharts.com[m,a]ea... The good news is that the Nasdaq has been managing just to stay above this trendline on a closing basis since the beginning of August... The bad news is that this is a downsloping trendline... So, unless the Nasdaq can break away from the downward magnetic pull of the trendline it will keep going lower as the trendline goes lower... We are likely to see a test in the 2000 and 1940 area soon... Jim