$COMPQ Resistance
By Johns Wu on Nov 28, 2005
The Nasdaq flew right into resistance today.
As expected, some sellers moved in to cash in on profits during the monstrous rally this month. Who said technical analysis is useless?
This entry was posted on Monday, November 28th, 2005 at 3:40 pm and is filed under Annotated Analysis.
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2 Responses to “$COMPQ Resistance”
By Space4u2go on November 29th, 2005 at 2:41 pm
Also $INDU (Dow Jones) is at a very critical level, if you check equivolume chart it shows big rectangle and candle stick pattern shows ‘Gravestone Doji’ which is a top reversal signal.
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I agree with you on this one. The good thing is that the current retrace is happening at the top trend line that is uptrending. Thus, this is part of the triangle formation and show no sign of a trend reversal (at least as of yet).