March 02, 2005 Charts
Certainly looks like the trend is up. Have you noticed how the NQ appears to be bucking the trend?
Stock market indices have rallied into resistance, I am using the cash dow 10850 as my gauge of where we are in relation to this resistance in a general sence.
The Nasdaq 100, NQ / QQQQ , when viewed on the daily chart, is trapped between the falling 50 day ema and the rising 200 day ema. Price has sold off from the Dec 04 Highs back to this 200 ema support line. One possibility is a bear flag is forming along this 200 day ema support line. The next leg in the Nasdaq on the daily chart will begin once this narrowing consolidation is resolved.
The Nasdaq 100, NQ / QQQQ , when viewed on the daily chart, is trapped between the falling 50 day ema and the rising 200 day ema. Price has sold off from the Dec 04 Highs back to this 200 ema support line. One possibility is a bear flag is forming along this 200 day ema support line. The next leg in the Nasdaq on the daily chart will begin once this narrowing consolidation is resolved.
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