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Wednesday, August 20, 2003 10:46:09 AM
VIX and COMPQ Charts - VIX may have put in a bottom. Now trading back over 20 while the COMPQ has held support above yesterday's lows so that VIX bottom is still in question:
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From Briefing.com: COMPX Nasdaq Composite (1753) -- Technical -- Modest pressure seen this morning but initial support at yesterday's afternoon low (1745) has held thus far. Secondary support is in the 1740/1737 area (key in July/yesterday's low). Given the extensive gains of late (index up 6 of last 7 +7.3%) the case could be made for a period of consolidation but a continued posture above initial support and a sustained push through first resistance at 1755/1757 would suggest that the bulls are unwilling to relinquish control even for the very near term. Next resistances are at 1761 (yesterday's high, new 52-wk closing high) and 1776 (July intraday high).
From Briefing.com: COMPX Nasdaq Composite (1753) -- Technical -- Modest pressure seen this morning but initial support at yesterday's afternoon low (1745) has held thus far. Secondary support is in the 1740/1737 area (key in July/yesterday's low). Given the extensive gains of late (index up 6 of last 7 +7.3%) the case could be made for a period of consolidation but a continued posture above initial support and a sustained push through first resistance at 1755/1757 would suggest that the bulls are unwilling to relinquish control even for the very near term. Next resistances are at 1761 (yesterday's high, new 52-wk closing high) and 1776 (July intraday high).
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