CSFB-Nasdaq 100 to turn 'bearish' on break below 1,405
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CSFB-Nasdaq 100 to turn 'bearish' on break below 1,405
Nasdaq 100 to turn 'bearish' on break below 1,405: CSFB ($NDX) 9:49am
NEW YORK (CBS.MW) - CS First Boston technical analyst Francoise Skelley said if the Nasdaq 100 Index ($NDX) falls through support at the 1,405 to 1,406 level, "bearish momentum" would be reasserted, it would be set up to decline to support at 1,383 and potentially to the 1,355 to 1,369 area.
Skelley believes the index would bounce if it falls to the latter level, but thinks it will eventually break through it and fall to about 1,300, and then to 1,265 to 1,280 by the end of the year.
She added that a rally above the 1,442 level would erase the current negativity.
The NDX was last down 12 points at 1,410.
NEW YORK (CBS.MW) - CS First Boston technical analyst Francoise Skelley said if the Nasdaq 100 Index ($NDX) falls through support at the 1,405 to 1,406 level, "bearish momentum" would be reasserted, it would be set up to decline to support at 1,383 and potentially to the 1,355 to 1,369 area.
Skelley believes the index would bounce if it falls to the latter level, but thinks it will eventually break through it and fall to about 1,300, and then to 1,265 to 1,280 by the end of the year.
She added that a rally above the 1,442 level would erase the current negativity.
The NDX was last down 12 points at 1,410.
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