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 : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: t2 who wrote (9489)	11/30/2001 8:50:44 AM
From: ajtj99	Respond to of 99280

NV, you've got the .618 re-trace levels from the May highs at 1970 and the round number 2000 as mild levels of resistance. However, we also have Dow 10,000 and Dow 10,200 as resistance too. After the first couple days of next week we may get a slowdown in buying, as the funds will have done their beginning of the month thing, creating another big overbought situation on the charts that needs to be corrected, if only for a couple of days. They were able to take the Dow up 100-points at the end yesterday, putting it once again within reach of 10,000. The Nas is along for the ride possibly until that situation is resolved. However, I don't believe the Nas will explode above the high we set earlier this week, BWDIK. You are correct in that the market may blow upwards, but there is a lot of evidence on the downside too. The bullish/bearish indicators are getting near stratospheric levels, and that is something that could be a real liability for longs soon. By the way, if we trade sideways for another 1-week to 10-days, Larry's channel should break to a "sell". Good luck, NV. I believe you've probably broke even the last 2-weeks also. That's got to be frustrating for a bull.