I strongly believe that the charts often speak themselves,
you
just need to look at them from the right angle and at the right moment
- JB90
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08/01/2001
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Watching Nasdaq bellwethers... |
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With the earnings season winding down, investors will increasingly focus on the economy. Almost all profits warnings are already made and Nasdaq still remains slightly above psychological level of 2K. We looked up at some Nasdaq heavy trains like BRCM, NXTL, INTC, YHOO and ORCL. They all exhibit the same pattern : they experienced a V-shape low in April 2001, then rallied steeply off the lows and now these stocks are building multi-months base, none of them broke an April pivot until now. This signifies that the confusion and indecisiveness is upon us. Waiting
for a break out of the upper range as a bullish signal may be not a
bad idea. Good trading, Subscribe to our newsletter
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