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Strategies & Market Trends : Stock Attack -- A Complete Analysis

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To: bobby beara who wrote (23000)	5/4/2000 1:17:00 AM
From: Chris	Read Replies (1) of 42787

some stuff from donald sew: (i hope he doesn't mind) Short-term technical readings: DOW - BORDERLINE CLASS 1 SELL signal SPX - OVERSOLD REGION NAZ - MIDRANGE/ UPPER-MIDRANGE VIX - OVERBOUGHT REGION(inverse to market) The DOW closed about 80 points above its intradays lows. I wont go that far to say its a convincing start to a rebound but it is still a hint. The short-term downside in the DOW and SPX is now limited. If the SPX was to continue down it would ring a CLASS BUY signal on THUR, but not sure if it would be a CLASS 1 or CLASS 2. The NAZ/NDX still has significant downside potential since my short-term technicals for the NAZ/NDX are in the midrange/upper-midrange. As mentioned in a previous post, the NAZ/NDX rallied strongly in the last 15-20 minutes and since the NDX only closed down 65 points. Prior to the end of day rally, the NDX was down about 180 points which qualified for a DOWN DAY-2, but with the rally where the NDX only closed down 65 points qualifed for a FLAT DAY-2, which implies that DAY-3(THUR) should be down strong. The VIX is 1-2 days away from giving a CLASS SELL SIGNAL(inverse to market), so VIX is also hinting that the market is nearing a short-term bottom. If the overall market continues down, my short-term technical would give a CLASS BUY signal in 1-2 days. So I suspect that the short-term bottom should arrive FRI/MON, if the market continues down. The CBOE PUTP:CALL RATIO was at .74 which is now showing some signs of FEAR. Its not at an etreme yet, but implying that FEAR is growing. The 5-DAY TRIN closed at 6.33. A reading at/above 6 implies a short-term bottom is near. A reading of greater than 6 can last a few days before reversing upwards. Although it is still possible for a retest for the NAZ/NDX of its lows, I am starting to become less bearish. I DIDNT SAY BULLISH, just less bearish. I am suspecting a TRADING RANGE for the overall market, rather than intensified downdrafts. seeya

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