To: ajtj99 who wrote (57121 ) 10/20/2002 12:10:13 PM From: Rajkea Read Replies (2) | Respond to The NDX could climb in this week already in the first approach over the thick resistance with scarcely 920 points. Actually this was for the second attempt was only expected. Nevertheless this development is to be rated very bullisch, since the NDX thereby left the downtrend and the BREAK up to the week conclusion maintained. There are central and on a long-term basis no changes (see last week analysis): This wave sample for December is now complete. This means that the NDX ideal-proves this Downmove, however the entire fall of prices since the all time high, corrected. The first important proof that it concerns a significant low it was submitted, with the break of the downtrend. The BREAK is not yet significant, fits however into the favored scenario. The second large hurdle would be the long-term downtrend. This fall of prices trend line runs with approximately 1,020 points. It would not be unrealistic that the index likewise tests this resistance in few days. The probability for the immediate break is however rather small, since the index would have then already risen over 25% within 2-3 weeks. Fundamental the technical Chartsituation is to be rated thus bullisch. A necessary and forthcoming correction can lead possibly again to a critical situation. The crucial support is with approximately 860 points. So for a long time the NDX above 860 noted, remains the total estimate positively. Only a break signals that it concerns only a Bearmarket Rallye (wave 4 since the December Top) and follows until January losses into the lower 700-er range. If one subordinates that a reaction begins on the rise scarcely below 1.000, one can determine a correction goal of approximately 890 points. In the ideal case the Subwave ii will go there to end, whereby a 38%-Korrektur (approximately 910-915) is already sufficient.
