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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Clappy who wrote (2139)	9/19/2000 10:12:07 AM
From: Jim Willie CB	Read Replies (1) of 65232

I dont see ANY head&shoulder bearish NazComp patttern AT ALL if a real H&S, then March peak would have to serve as Head if so, then you have no Left Shoulder at work looks more like a sawtooth pattern with an uptrend channel bias we sit now at the 200day MovAvg here we sit at lower boundary of a rather clear upchannel May got a little below that boundary, not a biggee relative strength for Naz is surely weak, even slightly weaker than last month in August, but not any as weak as the spring weekly stochastics indicate extreme oversold levels at 20 August simply toyed with us, fooled some who wanted a resumption quickly of the bull path we have two large opposing forces creating volatility ------------------------ 1. end of Fed tightening cycle.. next moves likely to be rate easing.. Europe is teetering, so additional hikes extremely unlikely.. expansion around the corner for Money Supply 2. nearing a climax in economic slowdown.. uncertain levels of damage to demand from higher rates.. could affect earnings and capital outlays for several more months tidbits: Intel just got upgraded by a major House GoldmanSachs just beat expected eps perhaps we are done with this contrived semiconductor selloff good lift from financials also / JW

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