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 : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: pz who wrote (39289)	4/29/2002 8:07:57 AM
From: DanZ	Respond to of 53068

We've got the makings of an inverse head and shoulders pattern in the Nasdaq Compositie monthly chart. The left shoulder occurred in Mar/Apr 01, the head in Sep 01, and we could be forming the right shoulder now. The volume is lighter on the right shoulder than the left shoulder, which typically occurs with this type of pattern. The volume in Mar 01/Apr 01 was 447 million/426 million and the volume so far in Apr 02 has only been 200 million. The neckline is between 2100 and 2200, but obviously there's no way to tell if this is a H & S until it breaks above the neckline on increasing volume. It is something to watch though, especially since the Nasdaq has had short term support at 1700 and it took a national disaster to get the market to the Sep 01 lows. If the market does test the Sep lows again, absent some sort of catastrophe, I believe that it will bounce strongly as buyers see that as another chance to buy at that level. Paul: Excellent job on the playhouse and your charitable help is surely much appreciated by those in need. Kudos to you. Nemer: I'd be interested in hearing how your gazanias do. Mine bloom like crazy every day, and there are colors galore. Hopefully they will act like perennials like the nursery told me because I don't want to replant them next year. I want to use them not only for color, but also for ground cover.