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

To: TREND1 who wrote (53360)	4/18/2002 9:39:07 PM
From: ajtj99	Respond to of 99280

I'm not predicting, Larry. I'm watching the gaps at NDX 1364 and COMP 1769 to see if they get filled. I'm also watching the .382 re-trace at NDX 1360 and COMP 1764. If we breach those lower numbers, a test of 1322 NDX and COMP 1724 would be next. That's what I'm looking at. In this current market environment I find it much easier to just watch support and resistance levels. Interesting how we were stopped by the 200-SMA on the 15-minute today and the 50-SMA on the same chart on the top after the low. That 200-SMA on the 15-minute is what we gapped over on Tuesday also, so a breach of that may mean a re-test of the NDX 1322 level is on, especially if the gap at 1364 does not hold. BTW, the drive at the end of the day re-traced 1/2 of the drop and got us nearly to Max Pain. Very nice and neat.