Chart of the Week: Fibonacci Retracement Graph

Tuesday, August 02, 2005 | 11:37 AM

Kevin Lane notes that “short-term momentum indicators on the NASDAQ Composite that suggest, in the near-term, the index may be a tad extended and ripe for a shortterm pullback.”

Fibonacci Retracement Graph
click for larger graph
Fib_retrace_nasdaq_8105

Source: Technimentals

“Overall, we think the intermediate term trend is for higher prices, we could see some retracing back down towards the 2,127 level as the NASDAQ reversed off the 2,200 level.”

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Tuesday, August 02, 2005 | 11:37 AM | Permalink | Comments (3) | TrackBack (0)
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Posts like this have been great places to buy.

Posted by: Chris | Aug 2, 2005 5:18:57 PM

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