2007-3-20 2007-3-20 We believe that the stock market still has room to grow before a pullback. The NASDAQ 100 and NASDAQ Composite are still below their 2007 highs, the S&P 500 broke above its recent 2007 highs today, and the Russell 2000 stopped its run today at last week's resistance.The NASDAQ 100 continues to look the most bearish of the indices that we follow. It is still in a possible head and shoulder formation. A sustained break of the 1825 area would likely push the index to 1850 and invalidate the possibility of the recent consolidation being a head and shoulder formation. Due to the right shoulder slanting higher, the index not falling to the 1750 support during the formation of the possible right shoulder, and recent support being found on the 50 day moving average, we believe that the index will soon break above both the 1825 and 1850 resistance and invalidate the formation. 97842 text/html http://www.nasdaqwizard.com/midweek021407.html 1.0 EN index,follow We believe that the stock market still has room to grow before a pullback. The NASDAQ 100 and NASDAQ Composite are still below their 2007 highs, the S&P 500 broke above its recent 2007 highs today, and the Russell 2000 stopped its run today at last week's resistance. text