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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: Killswitch who wrote (11317)3/22/2002 2:57:17 PM
From: Dominick  Respond to of 19219
 
Brian Atkins:

What pattern are using to come up with that measurement?

Well for one, if you look at QQQ and draw a down trend line on the highs from 3/11 thru 3/19 then draw another one
on the lows from 3/13 thru 3/21, it becomes probable that it could drop at least 1 point which would be at least 40 points on the NDX.

You could draw the same lines on NDX. The NDX shows a nice left shoulder on Feb 8. QQQ has the left shoulder on Feb 8. So in a week or two it's possible that shoulder could be tested.

Dominick



To: Killswitch who wrote (11317)3/26/2002 3:54:06 PM
From: Killswitch  Read Replies (1) | Respond to of 19219
 
Looks like we'll end up with reversal hammers on NDX and other stuff. NDX also formed and broke out of a falling wedge intraday... which hopefully will fuel some follow thru tomorrow to confirm the overall pattern and take us up to the upper trendline of this consolidation. Perhaps by Thursday we could break out of it.


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