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Chart of the Week: Nasdaq – 6 Month Chart
Posted By Barry Ritholtz On May 23, 2005 @ 11:40 am In Markets | Comments Disabled
Last week , the Nasdaq Composite burst through what we
described as a “confluence of technical factors:” 200-day moving average (1995), the downtrend line from the December
highs (1996) and the 50% retracement of losses from March highs to April lows
Nasdaq – 6 Month Chart
click for larger graphic
Source: Gary B.
The 2,000 resistance level now offers both psychological and
technical support, and is approximately 2.5% below recent close. That is your
new line in the sand – and your stop loss.
of the Day:
"One of the funny things about the stock market is that
every time one person buys, another sells, and both think they are astute.
" -William Feather 
Article printed from The Big Picture: http://www.ritholtz.com/blog
URL to article: http://www.ritholtz.com/blog/2005/05/chart-of-the-week-nasdaq-6-month-chart/
URLs in this post:
 Last week: http://bigpicture.typepad.com/comments/2005/05/chart_of_the_da.html
 Image: http://bigpicture.typepad.com/.shared/image.html?/photos/uncategorized/nasdaq_52305_2.jpg
 : http://www.newyorker.com/critics/books/articles/050516crbo_books
 William Feather : http://www.quotationspage.com/quotes/William_Feather/
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