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Technology Stocks : INTEL TRADER
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To: Trading Machine who wrote (6726)9/7/1999 4:53:00 AM
From: MonsieurGonzo  Read Replies (1) of 11051
 
TM:" read on next week ? "

OEX-100 should test DownTrend Line drawn between CLOSE 16-JULY and CLOSE 25-AUG; around ~721.25 +/-3.75 area.

NDX-100 should peak at around ~2562. Odds are good that this peak will be the top of this Tech sector cycle. Any CLOSE above the apparent UpTrend upper Channel Line drawn between CLOSE 01-FEB and CLOSE 16-JULY would violate the YTD trading range pattern. However, we must (continue to) assume that the NDX's UpTrend remains in effect until such time as it closes below its 14d EMA.

Beyond this apparent NDX-100 UpTrend upper Channel Line, Paul - I've got a fibonacci construct that looks like this :

2873 = far target

2778 fib

2719 fib

~2665 fib interesting level, not sure why

2624 fib

2562 = near target; UpTrend upper Channel Line area

~2500 = where we are now

2465 +/-3 = horizontal support / resistance line

short-term UpTrend Line = drawn between CLOSE 10-AUG and CLOSE 02-SEP; NDX-100 UpTrend mo is well-defined by 14d EMA.

I recommend that we fiddle with our daily charts' %K sto... draw vertical lines at places where you would have liked to BUY. Then plug in values for %K between 9 (faster) to 21 (slower) with 14 (nominal) until your sto indicators match your charts' new realities / personal tastes.

and your tea leaves say...?

-Steve
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