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Politics : Idea Of The Day

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To: ken-l who wrote (32471)8/17/2000 11:53:50 AM
From: IQBAL LATIF  Read Replies (4) of 50167
 
ike - thanx for the clarifications !! As we hit 3921 on Comp and cross the NDX 3757 to hit 3797 yesterday noise and back and forth filling looks only as opportunities to get into long positions, the four important sub indexes that forewarn a move in NDX and Comp were great signals to play.. now we need to say above these levels for few days so as the 25 days itimer starts moving up as it takes out the 50 days MA we will see a rally that will take out the July high of comp..

<<Right now Comp is shy of its important 25 days MA at 3931 so is NDX a little shy of 3757.5 the 25 days MA, however notice the underlying movement of the four indexes we depend on to predict the way forward.. IIX has jusr crpet above 507 its 25 days MA, PSE has tkaen out 1073 its 25 days MA so has SOX at 1048 and NWX 1287, now this concurrent move of four underlying indexes need to be negated and they need to fall below this 25 days MA for forward thrust of Comp and NDX to dissipate.>>
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