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5,460.48
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US TECH 100
19,180.40
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-0.44%
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39,118.86
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techcharter

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techcharter

Re: None

Tuesday, 05/16/2006 7:56:42 PM

Tuesday, May 16, 2006 7:56:42 PM

Post# of 51804
NDX Bollinger Bands

OUCH!!! NDX has now spent 4 consecutive days below the lower bollinger band. The waves look nearly done. Stochastics are in oversold conditions. Downside momentume has slowed. Expect consolidation the rest of this week.

MSFT spent 5 days below the lower bollinger band. It has spent the last two weeks moving slightly lower in a little wave 5. The rest of the market is nearly done catching up.

It might be a good isea to cover and wait for the consolidation to take place before establishing new short positions.

http://stockcharts.com/h-sc/ui?s=$NDX&p=D&yr=0&mn=6&dy=0&id=p98331346671
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