Friday, April 25, 2003 6:48:59 PM
Testing Support?
Are We Testing Support?
It is interesting how people look at the same data and see different things. I took profits yesterday so I can buy any more dips, but it looks like we are in a breakout and testing past support. Check out the BP charts here: #msg-785469 and you see they are ALL still in up mode so today was just a pause to refresh I think until they turn down.
Is it one last chance for you bears to short?
This ess n pee chart:
http://charts.barchart.com/chart.asp?sym=$INX&data=A&date=042503&den=MED&evnt=ADV&am....
It looks to me like it broke out of a ascending triangle with the resistance line just below 900 and today it came back and tested that line. I think this is pretty common. Maybe an early Mon AM panic sell to pierce the support line intraday to really make it exciting? It did see one piercing on the way up 3 weeks ago.
The Nasdaq is doing the same thing
http://bigcharts.marketwatch.com/intchart/frames/frames.asp?frames=0&time=7&freq=1&compi....
Gotta give da bears one more chance to short perhaps? :)
Are We Testing Support?
It is interesting how people look at the same data and see different things. I took profits yesterday so I can buy any more dips, but it looks like we are in a breakout and testing past support. Check out the BP charts here: #msg-785469 and you see they are ALL still in up mode so today was just a pause to refresh I think until they turn down.
Is it one last chance for you bears to short?
This ess n pee chart:
http://charts.barchart.com/chart.asp?sym=$INX&data=A&date=042503&den=MED&evnt=ADV&am....
It looks to me like it broke out of a ascending triangle with the resistance line just below 900 and today it came back and tested that line. I think this is pretty common. Maybe an early Mon AM panic sell to pierce the support line intraday to really make it exciting? It did see one piercing on the way up 3 weeks ago.
The Nasdaq is doing the same thing
http://bigcharts.marketwatch.com/intchart/frames/frames.asp?frames=0&time=7&freq=1&compi....
Gotta give da bears one more chance to short perhaps? :)
Kirk out
#board-1574
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