Saturday, January 18, 2003 9:38:24 AM
CHART: NDX 2yr trend channel w/100d SMA plotted. Pay attention to the MACD trend line that's about to be broken (we could be looking at a real nasty bear on this trip down).
100day SMA shown is at 982.6 (it provided support on Dec 31st). Bottom of the channel is currently at 720 (equivalent to near 1050 on the COMPQ but remember it is heading lower). Last Oct bottom was at 795 for NDX and 1108 for COMPQ. A break of the top of this downtrend channel should be considered bullish. Good luck to all.
100day SMA shown is at 982.6 (it provided support on Dec 31st). Bottom of the channel is currently at 720 (equivalent to near 1050 on the COMPQ but remember it is heading lower). Last Oct bottom was at 795 for NDX and 1108 for COMPQ. A break of the top of this downtrend channel should be considered bullish. Good luck to all.
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