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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Tomato who wrote (903)	4/2/2005 10:40:26 PM
From: Jibacoa	Respond to of 3722

Anyone have an Elliot Wave analysis of the biotech index? Not me Wayne, I haven't been a fan of the Elliot Wave Theory.<g> But the BTK remains on a down-trend and the attempted rally on March 14-15 was not able to break the downtrend coming from the January H. At present its nearest resistance is the March 29 H at 502.78 and then the March 24-March 28 double top at the 509 level before it can try the March 15 H at 515.66 (It needs to close above that level in order to get off the present down-trend. It seems ready to test support at the March 11 L of 483.43. Let's see if that will hold with the ASCO meeting coming around the corner. stockcharts.com bigcharts.marketwatch.com Bernard