[RT] The Reason for Nasdaq's Temporary Bounce

["James Taylor" <jptaylor@xxxxxxxxxxxxxxx>]

The reason that the Nasdaq market has gone up the 
last three days is due to technicals, surely not fundamentals, as the market has 
bounced off of a trendline going back to 1995.  How far can this pup 
potentially bounce before it resumes its rightful descent to earth ?   
It is likely that the Nasdaq will plunge again to retest the trendline.  If 
the trendline holds, which I would bet it will, given the fact that Easy Al 
Greenspan will likely cut rates by another 1/4 point at the end of the month, 
and spew more hot air on how he will be ready to cut again if the market heads 
lower (ps.  Easy Al, the market is bigger than you are, you just don't know 
it yet.)
 
Potential heights for the Nasdaq before the next 
leg down: 
3257   =50% retracement
3494   =62% retracement
 
 
 
 
 






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