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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (46772)	9/19/2001 12:48:21 PM
From: LTK007	Respond to of 56532

<<briefig.com 12:27 ET Nasdaq Composite : -- Technical -- At this point it's worth mentioning several closing levels below the 1500 mark and the corresponding dates. Back in 1998, the index underwent a "reaction sell off" in which it spiked lower to notch three consecutive closes under 1500. Specifically the three closes were: October 7, 1998 close 1462, October 8, 1998 close 1419, October 9, 1998 close 1492. Outside of those reaction lows, you have to go back to the July 10, 1997 close at 1490 to find the last close under the 1500 level. Today's intraday low at 1488 roughly matches with prior support around 1490 which may stand a chance to serve as a near-term bottom. >. end quote