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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40448)	12/10/2003 3:27:04 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 69287

14:59 COMPX Nasdaq Composite moves to new session low (1891 -17) -- Update -- -- Technical -- Index rebounded after testing support mentioned this morning at 1896 (see 10:00 update) but failed to build value above its 50 day exp avg at 1914. Has recently pushed to a new session low with the next support of interest in the 1881/1878 area. This marks the Nov closing and intraday low. Sustained penetration here breaks the bullish trend pattern, defined by higher highs and higher lows, which has been intact since the March bottom. The 62% retrace of the Sep/Dec rally as well as the bottom of the Oct 27 gap is at 1866. First step to improving the tone is sustained push above the 1896/1899 area.