2006-5-8 2006-5-8 Tonight we will be talking about three of the charts we have shown in previous commentaries: the S&P 500, NASDAQ Composite, and NASDAQ 100. The market indices continue to lose volatility and are most likely consolidating before the next move higher. The first chart of the S&P 500 shows how the index has been able to stay above the uptrend line drawn from October of 2005 and the support line from the mid-March breakout. There is no time element involved with the horizontal support line (just the need for the index to stay above it), but the uptrend line suggests that the S&P 500's next upmove should begin by the end of next week at the latest. The second chart is of the NASDAQ Composite. The NASDAQ has continued to stay in its rectangular formation and as the index has stayed above the two support lines drawn in the middle of the rectangle, the next move is likely to be an upside breakout. You can see how low volatility has become by looking at the Bollinger Band Width indicator below the chart. This suggests that it is only a matter of time before volatility increases and a subsequent market rise occurs. 141062 text/html http://www.nasdaqwizard.com/MidPics/mid032706.html 1.0 EN index,follow support lines bollinger band width volatility nasdaq composite s&p 500 qqqq Support Lines, Volatility, Bollinger Band Width and the S&P 500, NASDAQ Composite, QQQQ text