Stock Attack -- A Complete Analysis Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Chris who wrote ()	5/23/2000 7:00:00 PM
From: donald sew	of 42787

MAY 23 INDEX UPDATE --------------------- Short-term technical readings: DOW - CLASS 2 BUY SPX - borderline CLASS 1 BUY OEX - borderline CLASS 1 BUY NAZ - borderline CLASS 1 BUY NDX - borderline CLASS 1 BUY VIX - 29.30 midrange(inverse to market) CBOE PUT:CALL RATIO - .48(actually declined) 5-DAY TRIN - 6.21 Since the overall market is now in CLASS BUY territory, we could get a bounce as early as tomorrow. If the overall market continues down tomorrow I would be getting firm CLASS 1 BUY signals, with the window until THUR's lows. The NAZ/NDX/SPX/OEX did produce a LOWER LOW on a CLOSING BASIS. Sorry, but that ain't good. The next strong/important support line for the NAZ is around 2900. The 5-DAY TRIN is in line with my class buy signals. The VIX and CBOE PUT:CALL RATIO are not in line with my CLASS BUY signals. The VIX is only at 29.30 which is still a distance from the previous peak around 40, and my short-term technicals are basicly smack in the middle for the VIX which implies there is significant upside room(inverse to market). What has really surprised me was that the CBOE PUT:CALL RATIO actually declined to .48 even with the overall market selling off. Sorry, but no sign of fear from the PUT:CALL RATIO. As mentioned previously per my cycle analysis, I was suspecting some sort of bottom around FRI/TUE(MAY 26/30), so my short-term technicals may be 1-2 days early. I do not expect the forthcoming bounce to be that strong nor should it last long. I do suspect that it will produce a LOWER HIGH; thereafter the market should either produce a LOWER LOW or ZIG-ZAG, possibly forming another chart formation like a TRIANGLE/FLAG/WEDGE/WONTON/ETC. I would like to mention again that per my WEEKLY CHARTS I would get a BUY SIGNAL for the SPX/DOW around MID/END JUNE which would fit in line with the FOMC meeting. It appears that I could get a BUY SIGNAL(WEEKLY CHARTS) for the NAZ/NDX as early as next week. If that was to occur I suspect that the NAZ may just ZIG-ZAG/DOUBLE-BOTTOM allowing the DOW/SPX to catch up to the downside.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next