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

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To: Lee Lichterman III who wrote (26785)	8/4/2000 8:11:10 AM
From: donald sew	Read Replies (3) of 42787

Something I wanted to add to my "CAUTION FLAG" per the last update. If there is a spurt to the the upside in the NDX, I feel that the upside should be around 3800. Firstly, if the NDX does get to the 3800 range, my short-term technicals will be in CLASS SELL territory. There is also alot of HORIZONTAL RESISTANCE in the 3800 range. Lastly, the FIBONACCI 62% rebound level, based on the recent decline from 4089 to 3342, is at 3805 and the FIB 50% level is at 3715. So per the PATTERN I discussed the NDX could continue some more ZIG-ZAGGING or the upmove towards 3800 range could begin. Yes, yesterday was bullish, but it was only 1 day. Also, I will not turn bullish until the NDX is able to break back above the MAIN DOWNWARD TRENDLINE off of the ALL-TIME HIGHS, which is now around 3950; however keep in mind that I will be getting CLASS SELL signals prior to 3950, around the 3800 region. I will probably reshort the NDX in the 3750-3800 region. If the PATTERN is maintained, the selloff after the UP-SPURT could be very strong. Its not 100%, but merits a WARNING FLAG!

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