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

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To: Chris who started this subject	8/11/2000 12:35:05 AM
From: donald sew	Read Replies (1) of 42787

AUG 11 INDEX UPDATE --------------------- SHORT-TERM TECHNICAL READINGS: DOW - overbought/upper midrange, INVERTED HAMMER/SPINNING TOP SPX - midrange/upper midrange OEX - midrange/upper midrange NAZ - midrange/upper midrange NDX - midrange/upper midrange VIX - 21.28, lower midrange(inverse to market) CBOE PUT:CALL RATIO - .62 The minimum requirement for the CLASS 1 SELL signals in the SPX/OEX/NAZ/NDX has been fulfilled as of today. Now the question is will this downswing continue and by how much. Next week is expiration week which is statistically flat to up and the OEX is already near the MAX-PAIN level. Also the PUT:CALL RATIO is not overly bearish at .62, so I suspect that the downside could be limited until expiration, where the market could just ZIG-ZAG/SECTOR ROTATE. My MID-TERM CYCLE analysis is calling for the next mid-term top around SEPT 1-4, so I suspect that a mid-term bottom should arrive around the week after expiration, then the runup to SEPT 1-4. Keep in mind that SEPT is statistically the weakest month of the year.

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