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Strategies & Market Trends : Stock Attack II - A Complete Analysis
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To: Chris who started this subject3/22/2001 8:41:09 AM
From: donald sew   of 52237
 
MAR 22 INDEX UPDATE
-----------------------------
Short-term technical readings:
DOW - PENDING CLASS 1 BUY
SPX - PENDING CLASS 1 BUY
OEX - PENDING CLASS 1 BUY
NAZ - CLASS 2 BUY
NDX - CLASS 2 BUY

Yesterday was the BUY-IN DAY for the CLASS 1 BUYS on the DOW/SPX/OEX. As mentioned previously, if those indicies closed at/near their intraday lows that would be the first HINT of a NEGATED CLASS 1 SIGNAL - which aint good, since it implies alot more downside. If today is significantly negative (50-75 points down) and again closes at/near the lows, that would be confirmation of the NEGATED SIGNAL.

What a NEGATED CLASS 1 SIGNAL means is that per my short-term technicals, I have a TECHNICAL BREAKDOWN and from that point onwards my short-term technicals are useless. My dumplings then would be more useful for the market ggggggg. So those indices can just continue down and my short-term technicals are useless to determine where the bottom is.

Heres another BIG NEGATIVE, mentioned by TRADING MACHINE. If the DOW/SPX/OEX selloffs similar to the 2 previous days, and forms another big black candle - we could see the '3-BlACK CROWS' again. Im confident that most are now familiar with the 3-CROW(AWK-AWK-AWK!!!).

Still do not not have a CLASS 1 BUY on the NAZ/NDX, and in such a negative market, would not even consider a CLASS 2.

So lets watch to see if the negated CLASS 1 signal and/or the 3-CROWs develop today.
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