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Wednesday, June 23, 2004 8:46:54 AM
Chart of the Day - Market Uptrend Intact
This has been a challenging year for the stock market as illustrated by the downward sloping trend (see dashed red and dashed green lines). Even with this five-month downtrend, the Nasdaq has tested but not violated its long-term uptrend (see solid red and solid green lines). These two trends are converging and one will fail in the near future, but the long-term trend is still up until proven otherwise. Stay tuned...
Notes:
- What are the technical indicators saying about future Nasdaq trends? Find out with the long-term stock market charts, indicators, and studies of our popular premium service called Chart of the Day Plus.
This has been a challenging year for the stock market as illustrated by the downward sloping trend (see dashed red and dashed green lines). Even with this five-month downtrend, the Nasdaq has tested but not violated its long-term uptrend (see solid red and solid green lines). These two trends are converging and one will fail in the near future, but the long-term trend is still up until proven otherwise. Stay tuned...
Notes:
- What are the technical indicators saying about future Nasdaq trends? Find out with the long-term stock market charts, indicators, and studies of our popular premium service called Chart of the Day Plus.
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