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The NASDAQ breadth models remain sick and the NASDAQ is continuing to
pull down the NYSE which wants badly to rally (whipping around the spoo
in the process). Today, weekly continuous unadjusted ND futures hit the
62% retracement level of the Oct98 low to Mar00 high at 2525 and mounted
an unimpressive rally which was reversed when Gateway announced. I have
next major support in ND at 2210 which represents an AGet MOB support
and the 100% expansion of the first weekly leg down and retracement.
That might or might not finish the steepest part of the decline but
there is probably months, if not years, before a good bottom is in
place - it took 2 years from 1972-1974 to put in a bottom from the high
technology blow-off of the 60-70's.
Earl
----- Original Message -----
From: "BobR" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxx>
Sent: Wednesday, November 29, 2000 11:12 AM
Subject: [RT] Market - Nasdaq
> Oops, sent the CVnya on the previous post. Here is the CVnaz, looks a
bit
> more lame than the one for the NYA.
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Attachment:
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