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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey S. Lillie who wrote (21088)	12/22/2002 12:04:50 PM
From: ajtj99	Respond to of 30712

Jeffrey, when we have bounced without hitting the lower BB on the COMP and NDX, it has been usually because some important trendline support, Fib number, gap support, or moving average has held. It could be on the daily, weekly, or monthly charts, but is usually on the daily. Since we have breached the 50SMA on both of those indices, I'm wondering what important support there is at 1346 COMP that could hold here. It is possible that the COMP and NDX could bounce with the SPX and Dow here, but I'd still feel better if the underlying support that provides the bounce is a bit stronger or better identified. So far I can see on the weekly COMP chart the Friday close was right at the old H&S neckline. That's the kind of support I'm looking for on the daily: stockcharts.com[h,a]waclyyay[dd][pb20!b50!b200!c13!c20!c50!i!d20,2!f][vc60][iub14!la12,26,9!lg!li10,10!lh5,5!lp14,3,3!ll14][j8536142,y]&listNum=1