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Monday, August 10, 2009 10:32:43 PM
Bear Market Rally or the Real Deal?
http://headlinecharts.blogspot.com/
Marty Chenard pointed out on Friday that the NDX is trading at an important long-term technical level. He showed only the standard chart, so I added the log chart for contrast. Below is a comment from his blog.
"Since this current rally has remained below its long term resistance line, this has technically been a bear market rally. Now the important question hangs before us ... will the NASDAQ 100 fail at resistance, or will it continue up and peek over the Bull market's fence?"
He considers the rally off the March low a bear rally until the NDX breaks above the down trendline. So we wait and watch.
Posted by HeadlineCharts at 7:57 AM 0 comments
http://headlinecharts.blogspot.com/
Marty Chenard pointed out on Friday that the NDX is trading at an important long-term technical level. He showed only the standard chart, so I added the log chart for contrast. Below is a comment from his blog.
"Since this current rally has remained below its long term resistance line, this has technically been a bear market rally. Now the important question hangs before us ... will the NASDAQ 100 fail at resistance, or will it continue up and peek over the Bull market's fence?"
He considers the rally off the March low a bear rally until the NDX breaks above the down trendline. So we wait and watch.
Posted by HeadlineCharts at 7:57 AM 0 comments
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