Where are the fear charts???...lol...
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Looks like a rising wedge within a rising trend channel. That's typical although a pullback to the support line of the channel is expected. It looks like the Russell completed a five wave impule pattern and is starting the three wave corrective pattern - it needs to trade below 708 for that be confirmed.
Last edited by Guest; 03-09-2006, 03:41 PM.
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Spike good analysis, here's some shorterm thoughts ont he NAZ. We are at a crossroads and I think if today's low is taken out then we will see 2200... But we are at support and this is where smart money buys... one negative I see on todays bounce is the volume, not too impressive... here's a chart
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Originally posted by dmk112Spike good analysis, here's some shorterm thoughts ont he NAZ. We are at a crossroads and I think if today's low is taken out then we will see 2200... But we are at support and this is where smart money buys... one negative I see on todays bounce is the volume, not too impressive... here's a chart
Unless the Naz continues rising back up above the former resistance line, the calculated target objective is 2116. This was derived by taking the height of the diamond at its widest point (143 points) and subtracting it from the breakout price through the support line.
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