FYI UPDATE ... Don't forget to keep an eye on this Double Top Test ...
As an index, it is often ignored or discounted relative to the condition of
the aggregate stock market conditions.
But still, based on its chart, we shouldn't ignore it. What we are talking
about is the monthly NASDAQ Composite as seen in the posted chart below.
If you look at the chart, you will see that the NASDAQ Composite is getting
very close to its double top resistance test level of 5132.52 which was established
in March of 2000. Last Friday, it was 2.11% away from its old top.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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