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

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To: Chris who started this subject	8/30/2000 9:00:23 AM
From: donald sew	Read Replies (1) of 42787

SHORT-TERM TECHNCIAL READINGS: DOW - midrange SPX - midrange OEX - upper midrange NAZ - overbought NDX - overbought VIX - 18.93, lower midrange(inverse to market With the overall market down slightly yesterday, its another clue that a reversal may have begun; however the selling appears to be slow which is implying that this short-term pullback should be small. The SOX broke the BEARISH WEDGE to the downside. Normally once a chart pattern is resolved the resulting move should be strong; however the SOX did not follow-thru strongly to the downside. With the SOX breaking the WEDGE to the downside, other indicies should follow and also start breaking their wedge to the downside. If that doesnt occur soon, that would be bullish. So for today Im watching for good follow-thru to the downside and more indices breaking their wedge to the downside. If that doesnt happen then I will start to consider hedging/closing my short-positions.

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