SI
SI
discoversearch

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.
Politics : Idea Of The Day
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Peace who wrote (32325)7/27/2000 9:09:37 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Good analysis Peace however it is this 10480 point that I think on DOW after two closes below it will show a break of the wedge on the down side,if that happens we can easily ring that 10299 point low of 5/26, I totally agree with you that ECI today will set the tone as employment cost going forward is the concern if commodity inflation is not a threat which so far it appears is benign.

IIX is at 510 a shade higher than its 200 days MA a break of that on two closing will also show reversal of short term buy that is generated by 25 days i timer.. Interestingly Comp and NDX are still around that 4000 and 3800 mark although SOX made a quick test of 1015 which was little higher than 5/31 998 low and a good support for SOX, SOX with PSE in recent past has never tested its 200 days MA which lies at 923..compare it with Comp NDX IIX all these indexes have recently been well below the 200 days MA and in April went through much sharper sel off, that accumulation in some issues is clearly visible as selling continues on a low volume a point made earlier by one able poster..

For me this sell off in SOX and PSE will be countered by other sectors like internets and overall we may see these supports on DOW 10480 and SPX like 1455 maintained, one needs to distribute ones holdings and establish after some recovery is ensured soem long term positions in soem of the oversold stocks.. I think ECI and GDP numbers would give some reason for the market to bounce..
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News