Chart of the Week: Nasdaq Breaks its Downtrends

Monday, June 28, 2004 | 11:00 AM

From when the Composite peaked on January 26, to the May 17 lows, the Nasdaq has been trying to fight through a stubborn downtrend line. It finally managed to break through last week.

Nasdaq Breaks its Downtrends
nasdaq_june_2004

Source: StockCharts

With the down trend cleanly broken, the path of least resistance remains northwards. The next two resistance levels are 2055, and 2080 respectively.



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Monday, June 28, 2004 | 11:00 AM | Permalink | Comments (0) | TrackBack (0)
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