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

To: techanalyst1 who wrote (12033)	6/13/2002 10:51:45 PM
From: schrodingers_cat	Read Replies (1) \| Respond to of 57684

Looking at the charts it looks like we are very close to a retest on SPX and COMPX. If coming within 3% of the old low ( on a closing basis) qualifies as a retest then we need SPX 995 and COMPX 1465. NDX is already retesting the 9/21 closing low of 1127. It has gone as low as 1100 but, using a 3% criterion, it would have to hit 1093 before the retest failed. What do you think about all this? How close do we need to come to the old lows to qualify as a retest and how far below them can we go before the retest fails? Is 3% the right number to use? I think that with all the gloom out there, together with a strong economic recovery, there is a good chance that the retest will succeed, and finally put an end to this bear market. If this is a double bottom that would imply an upside target of COMPX 2700.