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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Chris who started this subject9/5/2000 8:55:30 AM
From: donald sew  Read Replies (1) of 42787
 
SEPT 5 INDEX UPDATE
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Short-term Technical readings:
DOW - midrange
SPX - upper midrange
OEX - midrange
NAZ - pending NEGATED CLASS 1 SELL signal
NDX - pending NEGATED CLASS 1 SELL signal
VIX - 19.51, upper midrange(inverse to market)

2 Fridays ago I got the CLASS 1 SELL signals with last Monday as the BUY-IN WINDOW, and in the DOW/SPX/OEX there was some pulling back. What is interesting is that my short-term technicals for the 3 are already in the midrange and that the those indicies were not able to close above last MON's intraday highs. What it means is that even with the upmove towards the later part of the week the short-term downtrend was still intact. This is a bullish indication implying that if the pullback continues it should be small, since the downside potential is limited.

Last week was bullish for the HiTechs where I got a NEGATED CLASS 1 SELL; however on FRIDAY the NAZ/NDX closeed significantly off their intraday highs which is a hint that the effects of the NEGATED SIGNAL may be ending. If the the NAZ/NDX closes negative today, that would confirm such.

As Gersh has highlighted, the area of focus for me now is the the US DOLLAR. As of this morning the DOLLAR is up significantly so no threat there yet for the market.
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