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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: Shack who wrote (78585)	8/6/2003 8:26:54 PM
From: ajtj99	Respond to of 209892

No, that's a 60-minute chart, unless something else is showing up. I went long this AM at NDX 1217 (actually entered the order last night anticipating 1214, and got filled at 1217 near the open), but failed to exit this afternoon at the 13-EMA touch on the 60-minute chart (1236). I was looking for a run to QQQ 31 to unload. I should have stuck to my original plan (which was to sell and short at 1239, which would have left me a bag holder still <G>). I'm just going to hang on and wait for QQQ 31 to come up on a bounce off support. I agree, 31 is a short in my mind also on the QQQ. Either way, we ought to find a local low at 1207 NDX or around 1193 NDX, IMO. The shelf at NDX 1250 should be very strong resistance going forward. Likewise, the shelf at 1162 ought to be support near term.