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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Donald Wennerstrom who wrote (11719)	9/21/2003 12:44:45 AM
From: Return to Sender	Read Replies (1) \| Respond to of 95587

SNIP: Meanwhile continue to watch the Semiconductors (SOX) closely as right now they have encountered resistance near the 475 level which coincides with their 200 Weekly EMA (green line) and longer term 23.6% Retracement (calculated from the early 2000 high to the October 2002 low). If the SOX breaks strongly above the 475 level this could eventually lead to a significant move up to its 38.2% Retracement Level near the 640 area in the longer term. In the shorter term it will be important for the SOX to hold support near its rising 10 Weekly EMA (blue line) which is currently around the 430 level. This past week the Nasdaq did close just above its 200 Weekly EMA (green line) near the 1900 level. Also since mid March the Nasdaq has been in an upward trending channel (solid black lines) and has been finding support on every pullback near its 10 Weekly EMA (blue line). In the longer term there is a significant upside resistance area in the 2050 to 2100 range which coincides with the Nasdaq's 38.2% Retracement Level (calculated from the early 2000 high to the October 2002 low) and the high made in early 2002 (point A). The question I have is will the Nasdaq develop a corrective 4th Wave before or after the 2050 to 2100 range is reached? If a corrective 4th Wave does develop before the 2050-2100 range is reached the support range to watch would be in the 1750 to 1790 area which coincides with the Nasdaq's rising 10 Weekly EMA (1790) and upward sloping trend line from the March low near 1750. amateur-investors.com