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 : The New Economy and its Winners -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (11395)	5/8/2002 2:11:21 PM
From: stockman_scott	Respond to of 57684

Market Commentary by Leigh Stevens 5/8/02, 1:34:55 PM Index Update: COMP - The Nas Composite appears to also be faltering at its upper hourly trend channel line and the 5 & 21-hour stochastics are crossing over to downside. If the COMP can't take out the intraday high at 1677.62, looks like this is an area to play for a short-term downswing. Unlikely, even if this is a bottom that its just going to up, up and away. Ditto on OEX and QQQ as far as their technical picture here. QQQ has gotten quite close to my projected resistance at 31.7 - intraday high is 31.51. If there is a decisive further advance taking out 32 on an hourly closing basis, then this would be a breakout move.