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Strategies & Market Trends : Stock Attack -- A Complete Analysis
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To: Chris who started this subject11/30/2000 9:04:23 PM
From: donald sew  Read Replies (1) of 42787
 
NOV 30 INDEX UPDATE
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Short-term technical readings:
DOW - midrange
SPX - lower midrange, intraday CLASS 2 BUY
OEX - lower midrange, intraday CLASS 2 BUY
NAZ - oversold, intraday CLASS 1 BUY, SHOOTING DOJI STAR
NDX - oversold, intraday CLASS 1 BUY, SHOOTING DOJI STAR
VIX - 32.56, upper midrange, intraday CLASS 2 SELL
CBOE PUT:CALL RATIO - .75

Per my short-term technicals, I did get INTRADAY BUY SIGNALs; however closing basis signals are more reliable.

There are signs that the some sort of a bounce may have started, which I also said on WED, but unfortunately we got the after hours news.

The SHOOTING DOJI STARs on the NAZ/NDX are commonly reversal signals. If tomorrow gaps up at the open we will get a MORNING DOJI STAR on the NDX and a MORNING STAR on the NAZ, which are more substantial reversal signals.

Please keep in mind that we are attempting to only identify a short-term bottom. The NAZ/NDX are in clear downtrends and the forthcoming rally should be sold in preparation for a retest, unless there are huge huge huge improvements(market internals/fundamentals).

In my personal account I added another small UOPIX POSITION(long-NDX) and am now 75% cash. I did not add in the website account since I made the decision after 3:45.
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